
The big news this holiday season? Canadians are getting a well-deserved tax break! Starting December 14, the federal government is pausing GST and HST on groceries, kids’ clothing, and even festive essentials like Christmas trees. This move could help your family save big during one of the most expensive times of the year.
What’s Tax-Free? A Breakdown
From stocking stuffers to dinner table delights, here’s what you can look forward to buying tax-free:
- Groceries: Fresh food, pre-made meals, and snacks like chips, candy, and granola bars.
- Kids’ Essentials: Clothing, footwear, diapers, and car seats.
- Entertainment: Toys, books, puzzles, and video game consoles.
- Holiday Cheer: Alcoholic beverages (below 7% ABV) and Christmas trees.
This tax holiday will last until February 15, 2025, helping Canadians stretch their budgets when it matters most.
More Savings for Working Canadians
Starting in Spring 2025, working Canadians earning up to $150,000 annually will also receive a $250 rebate under the new Working Canadians Rebate program. With nearly 19 million Canadians eligible, this extra cash could go toward paying bills, treating your family, or planning your next vacation.
Why This Matters
After years of rising prices, this initiative is a breath of fresh air. It’s designed to help Canadians enjoy the little things, like sharing a holiday meal, buying gifts, or cozying up for a movie night without worrying about breaking the bank.
Quick Highlights
- When it starts: December 14, 2024
- What’s included: Groceries, kids’ clothing, toys, snacks, and more.
- How long it lasts: Until February 15, 2025
- Who gets a rebate: Workers earning up to $150,000 in 2023
What This Means for You
Whether you’re prepping for the holidays or just trying to make ends meet, these savings will give you more room to breathe. Need extra advice on making smart financial decisions or planning your next big move in the real estate market? Follow our blog for more updates like this, or reach out to us directly.
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