Get Ready for the GST/HST Holiday Tax Break!
The Canadian government is offering a temporary GST/HST tax relief on essential holiday goods. From December 14, 2024, to February 15, 2025, you can enjoy savings on a variety of products, including groceries, holiday essentials, and more. This is a fantastic opportunity to make the most of your holiday shopping with no GST/HST charges on qualifying items!
What’s Included?
During the tax break period, you can enjoy zero GST/HST on many holiday essentials, including:
- Children’s Clothing & Footwear (excluding sports gear and costumes)
- Children’s Diapers
- Children’s Car Seats
- Toys & Jigsaw Puzzles
- Video Game Consoles & Accessories
- Physical Books (including audiobooks)
- Printed Newspapers
- Christmas Trees (natural or artificial)
- Food & Beverages (including most groceries and restaurant meals; alcoholic beverages under 7% ABV)
Additionally, HST will also be removed in provinces like Ontario, Newfoundland and Labrador, Nova Scotia, New Brunswick, and Prince Edward Island.
How Does It Work?
- When: The tax break is valid for purchases made between December 14, 2024, and February 15, 2025.
- Payments: Full payments must be made during this period, and goods must be delivered or made available within the same timeframe.
- Delivery Rules: If the item is shipped, it is considered delivered when it’s handed over to the shipping service (carrier, courier, or mail).
Examples of Qualifying Goods:
- A child’s winter jacket or boots
- A new video game console or a bundle of games
- A family dinner at a restaurant or take-out food
- Books for your holiday reading list
- A Christmas tree to decorate your home
How Much Can You Save?
A family spending $2,000 on qualifying goods (such as children’s clothes, toys, books, and groceries) could save up to $100 in GST/HST during this period.
This is a great chance to save more on the essentials that make your holidays bright!
Don’t Miss Out!
This limited-time offer allows you to buy holiday gifts and essentials without the usual GST/HST costs. Vendors will automatically remove the tax at checkout for eligible items, so you can shop with ease. Keep in mind that GST/HST registrants can also claim input tax credits for expenses made to provide qualifying goods and services.
Important Dates:
- Start: December 14, 2024
- End: February 15, 2025
Make sure your purchases qualify by checking with your retailer!
FAQ
- What items qualify for the GST/HST relief?
- Items like children’s clothing, books, toys, groceries, and holiday décor are eligible. Full details are available above.
- How do I know if my purchase qualifies?
- If the item is on the list above, and you pay for it between December 14, 2024, and February 15, 2025, it qualifies for the GST/HST relief.
- What happens if I paid a deposit before December 14, 2024?
- As long as the full payment is made between December 14, 2024, and February 15, 2025, and the item is delivered during this time, you’re good to go!
This article is posted at wolterskluwer.com
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