When the Ontario government’s Harmonized Sales Tax (HST) comes into effect on July 1, 2010, it will apply to funeral services. The new tax will add 8% to the cost of a funeral. However, those who plan their funeral and pre-pay before the new tax is implemented will be exempt from the 8% tax.
The potential savings for those who plan ahead are substantial:
We pre-plan and provide for important events in our lives, like our children’s post-secondary education and our retirement. We purchase insurance to protect us from the fiscal fallout of accident, illness or property damage.
Funeral arrangements are no different. Planning ahead makes financial sense and offers peace of mind to you and your family. The added incentive of avoiding the HST makes pre-planning funerals an even smarter idea.