Almost half of all business owners don't fully understand how HST will impact their businesses, according to an Angus Reid opinion poll.
An online survey of 500 Canadian adults who are self-employed or own a business found that only 44% of those surveyed know exactly how HST will apply to their businesses.
Another 31% somewhat understand how the new harmonized tax could affect them, 15% don't understand it at all and 10% say it won't apply to them.
The research was conducted for ING Direct in March, and found that 47% of business owners surveyed think the HST will have a negative impact on their business.
The poll also found that 37% of respondents think the new tax won't create any changes for their businesses, while 6% think HST will have a positive impact.
"We encourage all Canadians to save their money, so being in the know about new taxes and their implications is important," said Peter Aceto, ING's president and CEO.
The company recently launched a new website called HST 101 for Business to help entrepreneurs better understand the new tax regime.
B.C.'s new 12% harmonized sales tax is expected to replace GST and PST July 1, 2010.