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The Cost of Doing Anything
The following 2 items are small, but constant, drains to your money:
SALES TAX
Municipal 2-8 % + Provincial 2-8 % + Federal 10% tax.
So on $1 we might have 3% municipal + 7% provincial +10% federal, meaning
you spend $1.20.
Sales tax applies to ALL goods and ALL services. This does not count hidden
tax. The government will often charge 5-10% to corporations, who will then
pass along this charge customers in the sticker price of the item.
SERVICE CHARGE
Everything you do has a service charge! Whenever you make any
transaction the bank and the business or agency you are dealing with
charges you. They have a set rate of 2-8 cents per transaction plus a sliding
rate of 0.2 - 0.8 cents / $. Assume 5 cents for easy math. So if you buy a $10
item, and the store charges 5 cents basic + 5 sliding, and the bank charges
the same, you pay 20 cents in service charges.
Example:
You buy a $10 item, +$2.10 in taxes, +$0.20 in service charges. Total: $12.30
NOTE: sales tax and service charges are applied separately to the sticker
price in most areas.
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