Canadian household debt just reached the $ 3 trillion mark. Canadian household credit card debt is at the highest level in history. Bloomberg and the IMF, as examples, have called the Canadian real estate bubble the biggest in the world. Household income versus average house prices in Vancouver are at multiples of 22. The ideal multiple is 4 to 6 The BoC is doing everything it can to save the market, and it all starts with the CPLie. Sell if you can. Buyers keep your hands in your pockets.
How would Business owners be upset about the gst holiday ? Literally driving so much more sales and volume to your business. Updating your systems takes 15 minutes. Just absurd takes
I see you haven’t been a retail business owner nor seen the fine print and exclusions on the policy. They made it non-mandatory at the last minute because of its complexity.
I used to run a toy store with a POS system. We had 3 stores. We had thousands of skus. For us to update this, it would take at least a whole day each way. Doing this during the Christmas rush is just stupid. Now you might say "why can't you use categories to change this?" The main reason is that the categories we used are different than the categories the government uses. Another point is how do you determine what items fit? Ie. Toys for kids under 14 is exempt... many toys don't have an age description. Then there are returns. The only way to make this feasible would be to do this in real-time. But then the problem would be to remember to take it off based on all exceptions. It would take so much more time to process each transaction. Plus there would be more transactions to fix the mistakes. Places like Walmart, costco, etc can do this because they can have someone update the system in the days prior and then upload the changes at midnight. Mom and pop stores don't have that luxury
@ okay even if that is the case. You’re telling me that the headache of all that is not worth the enormous increase in sales and profit you’ll bring to your business as a result of this tax measure ?
Super informative discussion!
Canadian household debt just reached the $ 3 trillion mark. Canadian household credit card debt is at the highest level in history. Bloomberg and the IMF, as examples, have called the Canadian real estate bubble the biggest in the world. Household income versus average house prices in Vancouver are at multiples of 22. The ideal multiple is 4 to 6
The BoC is doing everything it can to save the market, and it all starts with the CPLie.
Sell if you can. Buyers keep your hands in your pockets.
Content is good but it's very hard to listen when there's so many filler words "like" from both speakers.
Thanks for the feedback, we’ll work on this!
👏👏👏
You need timestamps. Half of the discussion is about non sense. Just want the outlook for Vancouver real estate prices.
Not nonsense but not related to
Title of video.
Down. Way down.
How would
Business owners be upset about the gst holiday ? Literally driving so much more sales and volume to your business. Updating your systems takes 15 minutes. Just absurd takes
I see you haven’t been a retail business owner nor seen the fine print and exclusions on the policy. They made it non-mandatory at the last minute because of its complexity.
I used to run a toy store with a POS system. We had 3 stores. We had thousands of skus. For us to update this, it would take at least a whole day each way. Doing this during the Christmas rush is just stupid.
Now you might say "why can't you use categories to change this?" The main reason is that the categories we used are different than the categories the government uses. Another point is how do you determine what items fit? Ie. Toys for kids under 14 is exempt... many toys don't have an age description.
Then there are returns.
The only way to make this feasible would be to do this in real-time. But then the problem would be to remember to take it off based on all exceptions. It would take so much more time to process each transaction. Plus there would be more transactions to fix the mistakes.
Places like Walmart, costco, etc can do this because they can have someone update the system in the days prior and then upload the changes at midnight. Mom and pop stores don't have that luxury
@ okay even if that is the case. You’re telling me that the headache of all that is not worth the enormous increase in sales and profit you’ll bring to your business as a result of this tax measure ?
Very well said.
What enormous increase in sales? The GST savings is minimal, it’s not going to get people flocking to stores.
When was this show recorded it’s so out of date lmfao.