In January of 2008, the Federal Government Reduced the GST

question 130

Short Answer

In January of 2008, the federal government reduced the GST rate from 6% to 5%. What was the resulting percent reduction in the dollar amount of GST consumers paid on any item?

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Definitions:

Wholesale

The sale of goods in large quantities, typically to be retailed by others.

Manufacturing

The process of converting raw materials, components, or parts into finished goods that meet a customer's expectations or specifications.

Business Database Services

Services that provide structured and organized storage, retrieval, and management of business-related data for analysis and decision-making.

Dun & Bradstreet

A leading global corporation providing commercial data, analytics, and insights for businesses.