If you’re planning a holiday meal with friends and family, you may want to wait until December 14 before you purchase the ingredients.
Likewise, if you plan on purchasing toys for the children in your life, they are expected to be tax-exempt on December 14.
Bill C-78, the Tax Break for All Canadians Act, a federal bill that would temporarily exempt most food and qualifying goods from the GST/HST between December 14, 2024, and February 15, 2025, is expected to be passed this week. The bill passed in the House of Commons on November 28, 2024, and is currently awaiting a third reading in the Senate.
If passed as expected, starting December 14 and until February 15, 2025, the following items will be tax-free:
- Prepared foods, including vegetable trays, pre-made meals and salads, and sandwiches;
- Restaurant meals, whether dine-in, takeout, or delivery;
- Snacks, including chips, candy, and granola bars;
- Beer, wine, and cider;
- Pre-mixed alcoholic beverages of not more than 7 per cent ABV (alcohol by volume);
- Children’s clothing and footwear, car seats, and diapers;
- Children’s toys, such as board games, dolls, and video game consoles;
- Books, print newspapers, and puzzles for all ages; and,
- Christmas trees and similar decorative trees.
“Inflation is back down to 2 per cent and interest rates have been cut four times this year. However, the holiday season remains a time of high expenses for many Canadians families. With new tax relief on groceries and holiday expenses, we are reducing costs for Canadians when they need relief most…,” stated Chrystia Freeland, Deputy Prime Minister and Minister of Finance, in a media release issued by the Canadian Department of Finance on December 3, 2024.
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