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Federal government's two-month GST holiday begins


Published on 2024-12-14 09:20:46 - Toronto Star
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  • The federal government announced the plan to temporarily waive the five per cent goods and services tax in a bid to help ease affordability concerns during the holiday season.

The federal government of Canada has initiated a two-month GST holiday starting from July 1, 2023, to September 30, 2023, aimed at providing financial relief to Canadians amidst rising living costs. This initiative, announced by Finance Minister Chrystia Freeland, temporarily removes the Goods and Services Tax (GST) on a wide range of essential goods and services. The move is expected to save the average Canadian household approximately $250, with the government forgoing about $1.5 billion in revenue. The GST holiday covers items like food, clothing, and personal care products but excludes luxury items, alcohol, tobacco, and services like dining out. This measure is part of broader efforts to address inflation and support economic recovery post-COVID-19.

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[ https://www.thestar.com/politics/federal/federal-governments-two-month-gst-holiday-begins/article_b9acf8bf-c4e5-5c9c-b994-67cdb170c013.html ]