Finance committee  There is a service that is provided by the manager in the investment of the fund, that is true. But that same service could be provided by a broker if you were to go to a brokerage firm and ask for their advice on how to invest or manage your account with them.

Finance committee  Yes.

Finance committee  Certainly. You're talking about buying a mutual fund specifically.

Finance committee  So the management fee on a mutual fund is subject to HST.

Finance committee  For example, a B.C. couple with $200,000 invested in an RRSP who have invested under normal market conditions can expect to pay an extra $175 a year in HST. This leads to an extra $3,500 of tax over the life of the investment, or, if compounded, $6,000. This is an amount of money that matters to every Canadian.