December 18, 2024
Holiday Savings Unwrapped: Everything You Need to Know About Canada’s GST/HST Tax Relief
We’re excited to inform you that the Government of Canada has announced an HST Holiday, offering a fantastic opportunity for your business to attract more customers and boost sales!
Here’s how you can take advantage of this:
The government is proposing that the GST/HST on groceries and essential holiday items be fully relieved from Dec. 14, 2024, to Feb. 15, 2025. This proposal aims to provide financial assistance to all Canadians, particularly those who are struggling with rising costs of living during the holiday season.
How it works
Businesses are expected to remove the GST/HST on qualifying goods at checkout for two months starting Dec. 14, 2024. GST/HST relief will apply to qualifying goods that are delivered to the purchaser and paid for during the relief period. This also applies to goods that are imported during the two-month period.
What goods qualify?
Important considerations
∙ Retailers will need to adjust their point-of-sale systems to reflect the GST/HST relief on these qualifying goods. If you have any questions or require further clarification on the impact of this temporary relief on your business, please do not hesitate to contact us. Our team of experts is ready to assist you.