Start Date: 2024-11-30
End Date: 2024-12-06

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GST/HST Holiday on Essentials Announced

On December 4, 2024, Minister Chrystia Freeland presented Bill C-78 during a Senate Finance Committee meeting, introducing a temporary GST/HST exemption on essential items such as groceries and children's products. The exemption period is set from December 14, 2024, to February 15, 2025, aimed at alleviating financial burdens during high cost-of-living times. While this measure is expected to stimulate consumer spending, there were discussions regarding its potential challenges for small businesses and its implications for provincial revenues. The government is actively engaging with business representatives to address these concerns and ensure smooth implementation.

Sources: ['Transcripts: senparlvu.parl.gc.ca']