Publish Date: 22/11/2024
The federal government has proposed a two-month Goods and Services Tax/Harmonized Sales Tax (GST/HST) relief on groceries and holiday essentials to ease financial pressures and put more money in Canadians' pockets.
The tax break, set to run from December 14, 2024, to February 15, 2025, will temporarily remove GST/HST on items such as groceries, restaurant meals, drinks, snacks, children’s clothing, shoes, diapers, books, and gifts. This initiative is expected to provide an estimated $1.6 billion in federal tax relief and offer meaningful savings to Canadians during the holiday season.
What Canadians Can Save
• A family spending $2,000 on qualifying goods could save $100 in GST provinces.
• In HST provinces like Ontario, Nova Scotia, and others, the same spending could result in savings of up to $260.
How It Will Work
Businesses will remove GST/HST on qualifying goods at checkout. The relief will also apply to imports of these goods during the specified period.
This measure aims to help Canadians afford the essentials they need while enjoying the festive season without added financial stress.
To know the full qualifying goods list check the official website-
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