Thursday, April 29, 2010
Surprisingly HST to result in more ticket revenue for Ticats
There's an article in the Spec today about the HST and what it applies to that actually has a Ticat angle. Currently there is a provincial tax of 10% on movies and pro sport tickets (I believe it is called the amusement tax) that will be replaced by the 8% HST (5% GST is already charged). So with the final price already set, tickets sold for Cat games after the HST comes into effect in the beginning of July should get the Cats an extra 2%. Not bad from the Cats perspective, more revenue without an additional increase in ticket prices. Could be better for businesses buying tickets for entertainment as they can get the entire 13% back rather than just the 5% GST, although I'm not sure how GST and HST rules apply to entertainment expenses.