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Other BusinessYou are in: Jersey > Inside the States > Other Business > The cost of GST ![]() The cost of GSTBy Ryan Morrison GST costs the average islander around £626 per year according to the Treasury Minister. What does it cost you? The average cost of GST to Jersey households is thought to be around £626 per year, or at least that’s the figures given out by the Treasury Minister. The figure was given to the States by the Treasury Minister, Senator Terry le Sueur, as part of a detailed breakdown of the average cost of the tax. The figures have been worked out using the retail price index. It shows that a couple without children, who aren't pensioners, will end up spending around £623. But if that couple has a child the amount will increase to £877 per year. Meanwhile the average cost for a single pensioner is thought to be about £259 per year. Senator Terry Le Sueur argues the tax will leave the island in a strong position to deal with the loss of £100 million in tax revenues next year. The figures were released in response to claims by the Jersey Democratic Alliance that the average cost of GST is over £1000 per year. They say although a 3% tax may not sound a lot; its effect on household bills is significant. My GSTI decided to try and work out what GST is costing me per month. This meant finding out from my wife (!) what our shopping bill is each week and working out how much is actually coming out of my account for utility bills. It turns out our shopping bill is about £120 per week – that covers food, nappies and other bits and pieces needed to run a family of five and our utility bills come to around £90 per week. In total this works out at about £210 per week. So to get the amount GST costs us as a family each week we need 3% of £210 – which is £6.30, £27.30 per month or £328 per year. What about you?How much is the Goods and Services Tax costing you per year? Does your amount tie in with the £626 average suggested by Treasury and Resources, is it closer to the £1000 suggested by the JDA or is it lower? Have you had to make cut-backs to your usual shopping patterns because of the inclusion of GST or have you not noticed a difference? last updated: 07/07/2008 at 15:44 Have Your Sayjoker Alphonse Le Gasteloi Trevor Ryan (Host) Sqn Leader C Gull SEE ALSOYou are in: Jersey > Inside the States > Other Business > The cost of GST GST ExemptionsThe main goods and services that will not attract GST are:
A full list of exemptions is available in the booklet GST and the Consumer (see link above). ![]() PoliticsPolitics is talked about and covered across our output. |
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