Ontario Hst Tax Calculator 2015
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Reviewed by Calculator Editorial Team
This Ontario HST Tax Calculator 2015 helps you determine the Harmonized Sales Tax (HST) on purchases and sales in Ontario for the year 2015. The calculator uses the 2015 tax rates and provides a clear breakdown of how HST applies to your transactions.
How Ontario HST Works in 2015
In 2015, Ontario implemented the Harmonized Sales Tax (HST) system, which replaced the previous provincial sales tax (PST) and goods and services tax (GST). The HST rate in Ontario for 2015 was 13%.
The HST applies to most goods and services sold in Ontario. Some exceptions include:
- Basic food and groceries
- Prescription drugs
- Medical services
- Financial services
- Certain services provided by non-profit organizations
When you make a purchase in Ontario, the seller adds the HST to the price. The HST is then remitted to the government by the seller, and the buyer does not pay the tax directly.
How to Calculate Ontario HST
To calculate the Ontario HST for a purchase or sale, you need to know the pre-tax amount and the applicable HST rate. The formula for calculating HST is:
HST Amount = Pre-Tax Amount × HST Rate
Where the HST Rate in 2015 was 13% (or 0.13 as a decimal).
For example, if you purchase an item for $100 before tax, the HST would be:
HST Amount = $100 × 0.13 = $13
The total amount you pay would be the pre-tax amount plus the HST:
Total Amount = Pre-Tax Amount + HST Amount
In our example, the total amount would be $100 + $13 = $113.
Examples of Ontario HST Calculations
Let's look at a few examples to illustrate how Ontario HST is calculated in 2015.
Example 1: Purchasing a $50 Item
If you purchase an item for $50 before tax:
HST Amount = $50 × 0.13 = $6.50
Total Amount = $50 + $6.50 = $56.50
Example 2: Purchasing a $200 Item
If you purchase an item for $200 before tax:
HST Amount = $200 × 0.13 = $26
Total Amount = $200 + $26 = $226
Example 3: Selling a $150 Item
If you sell an item for $150 before tax:
HST Amount = $150 × 0.13 = $19.50
Total Amount = $150 + $19.50 = $169.50
Frequently Asked Questions
What was the HST rate in Ontario in 2015?
The HST rate in Ontario for 2015 was 13%. This rate applied to most goods and services sold in the province.
How do I calculate HST on a purchase?
To calculate HST on a purchase, multiply the pre-tax amount by the HST rate (0.13). Add the HST amount to the pre-tax amount to get the total cost.
Are there any items that are not subject to HST?
Yes, certain items such as basic food and groceries, prescription drugs, medical services, financial services, and services provided by non-profit organizations are not subject to HST.
How is HST different from GST?
Before the HST system, Ontario had a provincial sales tax (PST) and the federal goods and services tax (GST). The HST combines these two taxes into a single tax rate.