The federal government is announcing savings for Canadians as GST and HST are being paused in the country.
The pause will start on Dec. 14 and is projected to run until Feb. 15, 2025.
“Our government can’t set prices, but we can give Canadians, and especially working Canadians, more money back in their pocket. With a tax break for all Canadians and the Working Canadians Rebate, we’re making sure you can buy the things you need and save for the things you want,” said Prime Minister Justin Trudeau.
The tax break applies to a variety of items include, prepared foods, restaurant meals, snacks, beer, wine, cider, pre-mixed drinks below seven per cent, children’s clothing, footwear, toys, car seats, diapers, Christmas trees, books, print newspapers and puzzles.
“The holiday season is when expenses are highest for many Canadians and their families – even with inflation back down to 2 per cent and interest rates being cut four times this year. With new tax relief on groceries and seasonal expenses and a rebate for working Canadians, we are reducing costs when they are highest for Canadians. This is about helping you celebrate with family and friends and start 2025 with a little extra money in your bank account,” said Chrystia Freeland, deputy prime minister and minister of finance.
A rebate for Canadians was also announced today. Canadians who worked in 2023 and made up to $150,000 will see a cheque for $250 starting early spring 2025.
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