Ontario Hst Tax Calculator 2014

What is HST?

The Harmonized Sales Tax (HST) is a single sales tax that combines Ontario's provincial sales tax and the federal goods and services tax (GST). It was introduced in Ontario in 2014 to simplify the tax system and provide a more efficient way to collect taxes on goods and services.

HST applies to most goods and services sold in Ontario, with some exceptions. The standard HST rate in 2014 was 13%, which included the Ontario portion of the GST (5%) plus the provincial sales tax (8%).

How HST Works in Ontario

When you purchase goods or services in Ontario, the seller adds HST to the price. This total amount is what you pay, and the HST is then remitted to the government. If you're a business, you can claim the HST you've paid on your business expenses.

HST is collected on most goods and services, but there are some exceptions. For example, basic groceries, prescription drugs, and some medical services are exempt from HST. The Ontario government maintains a list of HST-exempt items.

HST Calculation

The basic formula for calculating HST is:

For example, if you buy a product priced at $100 before tax with a 13% HST rate:

How to Use This Calculator

To use the Ontario HST Tax Calculator 2014:

1. Enter the price of the item before tax in the "Price Before Tax" field.
2. Select whether you're calculating HST for a purchase or a sale.
3. Click the "Calculate" button to see the HST amount and total price.
4. Use the "Reset" button to clear the form and start over.

The calculator will show you the HST amount and the total price including tax. You can also see a breakdown of how the HST is calculated.