Federal Government Announces GST/HST Exemptions and Worker Financial Benefits for Holiday Season and Beyond

Starting December 14, 2024, Canadians will benefit from a sweeping GST/HST exemption on a wide range of everyday items, including restaurant meals, prepared foods, children's items, and select alcoholic beverages under 7% ABV. The tax break, set to run until February 15, 2025, aims to provide immediate relief to consumers facing ongoing affordability challenges. For travel advisors and agencies, this means potential tax savings on business meals, client entertainment expenses, and office supplies like books and newspapers.

The initiative also introduces a new Working Canadians Rebate, offering a $250 payment in early spring 2025 to those who worked in 2023 and earned up to $150,000. However, both measures still require parliamentary approval before implementation.

2024-11-21 12:52:25