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Home World News Us & Canada

Canada’s ‘tax holiday’ begins. Here’s what to expect – National

December 14, 2024
in Us & Canada
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Canada’s ‘tax holiday’ begins. Here’s what to expect - National
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Canadians heading out to do some holiday shopping this weekend will notice some of the tax on various products knocked off as the federal government’s temporary “tax holiday” goes into effect Saturday.

The two-month tax break is expected to save taxpayers an estimated $1.5 billion, and will reduce that amount from federal revenues, the parliamentary budget officer (PBO) said in a costing note published Monday.

The “tax holiday” is in effect until Feb. 14, 2025.

Basic groceries like fresh fruits and vegetables, most milk products, fresh meat, poultry and eggs already have no GST/HST, but prepared foods like sandwiches, salad and pre-made meals, as well as snacks like chips, candy and baked goods will see the GST/HST dropped.

Non-alcoholic drinks like coffee, tea, carbonated drinks and juices, as well as beer and malt beverages are eligible for the tax break, in addition to wine, cider and sake with a certain level of alcohol content.

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However, food or drink sold from a vending machine, dietary supplements, or items that don’t qualify as for human consumption like pet food will not qualify.

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Those looking for holiday gifts will see various kids’ items and clothing covered, including baby and children’s clothes and footwear up to certain sizes, children’s diapers and car seats.

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Adult clothing, footwear and specialized clothing aren’t eligible for a break.

When it comes to toys that are eligible, certain board games, Pokemon cards, plush toys and toy sets that imitate another item or involve building objects are included.

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Lego sets aimed at adults or hockey cards won’t see the same benefit.

In addition to toys, video game consoles and the physical games themselves as well as most printed books are eligible, though e-books, downloadable video games, gaming accessories and journals are not.

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Lastly, those who still haven’t bought their Christmas trees are also in luck as they too will be covered.

Global News has published a full list of everything that is and isn’t eligible for those wanting to know the details.

The Canadian Federation of Independent Business is asking customers, however, to be patient when shopping, noting that there is the possibility some items that should have had the tax removed did not due to logistics.

“For some small retailers, this has required going through and making judgment calls on thousands of items based on limited guidance from the Canada Revenue Agency. It is going to be a hot mess,” CFIB president Dan Kelly said in a statement Monday.

—with files from Global News’ Saba Aziz


&copy 2024 Global News, a division of Corus Entertainment Inc.





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