Strong Start For Spruce Kings Show Home

Sunday, October 24, 2010 07:42 AM

This year's Spruce Kings Lottery home at 2620 Links Drive

Prince George, B.C. - It is just seven days into the Prince George Spruce Kings' 29th annual Show Home lottery, and ticket sales are off to a strong start.

Something, Spruce Kings Marketing Manager, Jim Young, says is crucial in what is turning out to be a financially trying year. The annual lottery generates 75-percent of the capital needed to operate the locally-owned junior hockey club and it's the team's major fundraiser of the year.

Young says, "We've been hit hard by $40-thousand dollars in HST this year, which has really hurt the organization, and our government grants have been cut, as well."

"So, it's very critical in years like this to achieve a sell-out for club to exist in Prince George."

But Young says, "We've already sold over 400 tickets, which is an incredible start for us."

He says, "The support of the community is incredible -- they really come through for us every year -- and we're hoping to keep that pace going right through to the April 14th draw date."

That draw date is a change from previous years when it's been Valentine's Day because the government is now allowing non-profits to sell for a six-month period and the Spruce Kings have decided to take advantage of that extra time.

This year's prize is a 1520-square foot home built by Fair Value Homes, located at 2620 Links Drive in the Aberdeen Glen Subdivision. It comes with appliances and is valued at $392, 500.00. Up until the draw date, the home will be open daily from 10am until 6pm and tickets can be purchased on-site. There are a total of 85-hundred, $100-dollar tickets being sold.

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Posted on Sunday, October 24, 2010 07:42 AM in News by 250 News

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Comments

Posted by: Denaljo on October 24 2010 7:56 AM

$40000.00 HST?! Thx Gordo.

Posted by: boomer on October 24 2010 9:15 AM

Not Sure, Wouldn't PST have been included in the material costs before? The change would have been in the labour portion. What percentage of the total cost would have been labour?

Posted by: gus on October 24 2010 10:40 AM

I think they are talking about the general operations of the club which is having to pay $40,000 more as a result of the HST.

I also believe that if they are a registered amateur athletic club that they are treated in a similar fashion to a charity and are exempt from paying HST for some services/products. For instance, I think they do not have to pay HST on the lottery tickets they are selling. 12% on a hundred dollar lottery ticket adds up to a significant figure very quickly when one can sell 8,500 of them.

They may not have to pay HST on the house since it is below the limit where that comes into effect.

Of course the interesting part is that the bill of goods we are expected to believe from the BC Government is that the end user will not pay more where there has been PST in the past paid by the supplier because the supplier will be able to claim that and pass the savings on to the consumer.

$40,000 is 7% on around $600,000 which seems to be around what the team spends based on the information in the article.

LOL LOL LOL LOL LOL LOL LOL LOL ..... I have never had such a good but sad laugh in my life when thinking about the naiveté of the Government. They probbly sitll believe in Santa Claus as well. :-)