GST Tax Rate Reduction On May 2, 2006, the federal budget released a 1% reduction in the GST rate. Invoices generated on or after July 1 will require the new GST rate of 6%. HST is reduced to 14%. You will need to have a clean cut-off at June 30, 2006, similar to your year-end cut-off. Once June and prior month’s invoices have been processed in Accpac and prior to any July processing is started, the GST rate should be changed to reflect the 1% reduction. Download our instructions on how to complete this change in your Accpac ERP system. DOWNLOAD INSTRUCTIONS NOW. Federal Government Budget Speech Federal Government Budget Brief