In 2007, the Social Security Trustees suggested that either the payroll tax could increase to 16.41 percent in 2041 and steadily increased to 17.60 percent in 2081 or a cut in benefits by 25 percent in 2041 and steadily increased to an overall cut of 30 percent in 2081.
effective rate of protection. the real amount of PROTECTION accorded to domestic suppliers of a final product when a TARIFF is applied to a competing imported final product (see IMPORTS), but either no tariff, or a lower rate of tariff, is applied on FACTOR INPUTS that are imported to produce that product.
As a result, registrants (businesses or individuals registered to collect the HST on taxable sales) collect one sales tax and remit and report to one government agency. The HST rate is 15% and is composed of a federal component of 5% (GST) and provincial component of 10%. The Canada Revenue Agency (CRA) administers the HST on behalf of all the participating provinces. Questions with regard to the administration of the HST should be directed to the CRA at: