DEL DUCA LIBERALS PROMISE TO REMOVE HST ON PREPARED FOOD UNDER $20
Apr 29, 2022
By Bob Komsic
If voters decide to replace Doug Ford with Steven Del Duca, the Liberal leader promises to remove the provincial portion of the HST from prepared food purchases under $20.
He made the announcement at a specialty grocery store, pointing out many would benefit.
”Families that come into this supermarket and purchase a pizza or perhaps some chicken or some lasagna; officer workers all across downtown Toronto and beyond, who step out to get soup and salad; truck drivers in between their deliveries that want to grab a coffee,” Del Duca added.
”It’s always remarkable for me to see; especially over the past couple of years, how the prices have been skyrocketing and how much of a challenge it has been for everyday families with the cost of inflation.”
Currently, the HST exemption for prepared foods maxes out at $4.
The Liberals say they would pay for the move by adding a 1% surtax on companies, whose profits exceed $1-billion a-year; which they claim would generate about $150-million in annual revenue.
They’re also proposing a 2% income tax increase on anyone making more than $500,000 a-year, along with a new tax bracket of 15.16% on individual income above that threshold; which the Liberals say would result in more than $350-million in annual revenue.