April 15, 2010
Clause allows HST savings on pre-payment of service
LO members may want to take advantage of the pre-payment clause in the HST system that allows for an eight per cent tax saving if payment is made before May 1. Where payment for a service to be performed on or after July 1, 2010 becomes due, or is paid before May 1, then it is not the responsibility for the service provider to charge HST. Where payment for a service to be performed on or after July 1, 2010 is paid on or after May 1, then HST is charged.