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6mo ago

Canada Announces Temporary GST Holiday and $250 Rebate for Working Canadians

The federal government introduces a two-month GST exemption on essentials and a rebate for middle-class workers to ease holiday financial pressures.

A basket of groceries in a grocery isle. Text reads: The Honourable Harjit S. Sajjan and Parliamentary Secretary Taleeb Noormohamed highlight the government’s tax break for all Canadians and new Working Canadians Benefit
Prime Minister Justin Trudeau visits Vince’s Market, a grocery store in Sharon, Ontario, on Thursday November 21, 2024, where he announced a sweeping promise to make goods like groceries, children's clothing, Christmas trees and restaurant meals free from GST/HST between Dec. 14 and Feb. 15.

Overview

  • Starting December 14, Canadians will benefit from a GST/HST exemption on groceries, children's clothing, toys, restaurant meals, and other essentials until February 15, 2025.
  • The tax relief aims to reduce costs during the holiday season and provide immediate savings at the cash register for inflation-weary households.
  • A $250 rebate will be distributed in early spring 2025 to 18.7 million working Canadians with net earnings up to $150,000 in 2023.
  • The government has emphasized that while inflation has returned to 2% and interest rates have been cut four times this year, many Canadians are still feeling financial strain.
  • Parliament is being urged to pass the legislation quickly to ensure timely delivery of the GST holiday and rebate benefits.