QSA's Holiday Break in Retail (Issue #11, 2024)
Federal tax break starts; Retail sales rise in October; Wholesale sales decline in November; GST holiday impacts spending; Retail price index available.
Start Date: 2024-12-14
End Date: 2025-01-03
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Federal Government Introduces GST/HST Tax Break
On December 14, 2024, the Canadian federal government introduced a GST/HST tax break, effective immediately, covering various consumer goods. The initiative, announced by Ministers Rechie Valdez and Kamal Khera, aims to alleviate financial pressure by exempting items such as groceries, children’s clothing, and low-alcohol beverages from GST/HST until February 15, 2025. This temporary measure is expected to impact retail spending patterns, offering consumers savings during the holiday season.
Sources: ['Announcements: www.canada.ca']
