[BCMA MBEN] More on the Pending HST...
Jim Harding
JHarding@MuseumsAssn.bc.ca
Thu, 06 Aug 2009 11:13:19 -0700
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BCMA has consulted our auditor, McIntosh Norton Williams Certified
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Accountants, about HST implications (for BCMA), which may offer some
clues </span></font>
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regarding operating considerations. See below...</span></font>
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See also this link regarding today's
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<a href="http://www.timescolonist.com/travel/Butchart+Gardens+Survival+risk/1865027/story.html">
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<u>Times-Colonist (Victoria)</u>
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 lead story
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the potential HST impact on Butchart Gardens.</span></font>
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(BCMA, as the lead cultural heritage organization working with the Heritage </span></font>
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Branch and Tourism BC, as part of the Heritage Tourism Alliance of BC, is a </span></font>
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member of the Council of Tourism Associations (COTA), which Butchart </span></font>
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Gardens is also a member. COTA has been very active in response to the
HST</span></font>
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announcement).</span></font>
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>From McIntosh Norton Williams:</span></font>
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<i>Hi Jim,</i></span></font>
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<i>There is not really much information on this [HST] right now but we are </i></span></font>
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<i>working on something to put on our website.</i></span></font>
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<i>The good news is that when BCMA buys a computer, office supplies, or </i></span></font>
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<i>anything else with the 7% PST in the cost then you will save money </i></span></font>
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<i>because you will get 3.5% of that back through the HST rebate (which </i></span></font>
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<i>will replace the GST rebate you are currently receiving).</i></span></font>
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[<u>NB</u>: BCMA tracks & annually reports 50% of the GST expended over its </span></font>
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fiscal year and receives this amount back as a GST rebate].</span></font>
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<i>The bad news is that anything that you are currently paying GST on, but </i></span></font>
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<i>not PST, (accounting fees, contractors, hydro, basic telephone, etc) </i></span></font>
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<i>will cost you an additional 7% up front which will eventually end up </i></span></font>
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<i>costing you 3.5% once you apply for your annual 50% rebate.</i></span></font>
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<i>The changes to reporting really will not change much. You will just be </i></span></font>
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<i>getting back 50% of 12% rather than 50% of 5%.</i></span></font>
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<i>Looking over your records from 2008 I think you are looking at savings </i></span></font>
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<i>on hotels, capital assets, and office supplies.</i></span></font>
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<i>You are looking at increased costs from rent, audit/accounting fees, </i></span></font>
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<i>catering, and any contractors who currently charge GST.</i></span></font>
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<i>If you have any other questions please contact us.</i></span></font>
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<i>Thanks,</i></span></font>
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<i>Jason</i></span></font>
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<i>McIntosh Norton Williams</i></span></font>
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<i>Certified General Accountants</i></span></font>
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The BCMA, of course, does not charge public admissions and we are
seeking further clarification of implications to "gated attractions" and will
convey details as learned.</span></font>
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Also, we have begun looking for an authority we can contract to offer a half-
day workshop as part of the BCMA's 2009 Provincial Workshop
(increasingly appropriately titled) "<b>Survivor Osoyoos: </b><b><i>ReThink, ReTool,
ReWork! </i></b>", October 15-17, 2009 in Osoyoos, BC.</span></font>
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More to follow...</span></font>
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--Jim</span></font>
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_______________________________</span></font>
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Jim Harding, ED</span></font>
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BC Museums Association</span></font>
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(250) 356-5694</span></font>
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