- The Canadian government announced a two-month GST/HST tax relief on holiday essentials.
- The initiative, effective from December 14, 2024, to February 15, 2025, aims to help families during the holiday season.
- The tax relief applies to essential items such as groceries, restaurant meals, children’s clothing, gifts, and more.
- Businesses will remove GST/HST from qualifying goods at the point of sale during this period.
- The government estimates the measure will provide approximately $1.6 billion in federal tax relief.
- Included items in the tax break:
- Groceries: Most food items for human consumption will be tax-free.
- Children’s Clothing and Footwear: Clothing for babies and children, including winter gear.
- Toys and Gifts: Tax-free gifts and toys for children under 14 years old.
- Printed Books and Newspapers: Tax relief on physical books and print newspapers.
- Christmas Trees and Decorations: Both real and artificial trees will be tax-free.
- Prepared Foods and Beverages: Tax relief on snacks, restaurant meals, and ready-to-eat foods.
- Families with children can save on essentials like diapers and baby goods.
- Savings depend on spending; for example, a family spending $2,000 could save $100 during the two-month period.
Source: savassociates.ca
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
