The Trudeau government has unveiled new affordability measures to help Canadians manage the rising cost of living. These initiatives include a two-month GST/HST holiday and a $250 rebate for eligible workers.
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GST/HST Holiday Details
- When: December 14, 2024, to February 15, 2025.
- What’s GST-free:
- Prepared and restaurant foods (e.g., salads, sandwiches, takeout).
- Snacks, such as chips and candy.
- Alcoholic beverages with less than 7% ABV (e.g., beer, cider).
- Children’s items, including clothing, footwear, car seats, diapers, and toys.
- Holiday essentials like Christmas trees.
- Books, newspapers, and puzzles.
- Savings: Canadians could save an estimated $100 on $2,000 worth of purchases during this period. Savings in HST provinces (e.g., Ontario, Nova Scotia) may be higher, with up to $260 in some cases.
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$250 Working Canadians Rebate
- Eligibility: Individuals who worked in 2023 and earned $150,000 or less.
- Payment Timing: Cheques will be distributed in early spring 2025.
- Purpose: This rebate aims to provide financial relief directly to Canadians with modest to middle incomes.
These measures are expected to cost the federal government approximately $6.28 billion in total, with $1.6 billion allocated to the tax holiday and $4.68 billion for the rebate program.
For further details or updates, visit the official Government of Canada website.
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