Harmonized Ontario tax confirmed; magazines to take the hit

Magazines publishing in Ontario will, as expected, have to charge a 13% harmonized tax on top of subscriptions starting in just over a year. It was confirmed in yesterday's Ontario budget that the 8% provincial sales tax will be merged with the 5% GST starting July 1, 2010.It is, in effect, an 8% increase in taxation, since the 50% of magazines in Ontario have not charged provincial sales tax on