Quote:
Originally Posted by fotze
What would the average family spend per year? Bills have GST I think, like Shaw, phone and all that. Gasoline, some grocery items. $35,000 spent possibly, would be $350.
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I ran the math for my budget a few years ago. At the time I was earning a gross salary of about $42k, and of that, I calculated that only about $10k was spent on things that are subject to the GST (housing, groceries, RRSP contributions, etc. account for the lion's share of my net income). Assuming I still spend a similar portion of my net salary on GST-applicable items, a 1% cut would save me only about $100 per year...which works out to about two extra Starbucks coffees per month.