Ottawa, ON – November 21, 2024 – Today, our government announced a significant tax break for all Canadians, including a two-month GST vacation just ahead of the holidays, plus a $250 cheque in the New Year.
The past few years have been tough, with rising costs impacting households across the country. While inflation is cooling and interest rates are dropping, we know many Canadians are still feeling the strain on their budgets.
Though we can’t control prices at the checkout, we can put more money in Canadians’ pockets to help them afford what they need and save for what they want.
Starting December 14, 2024, we’re giving a tax break to all Canadians. With a GST/HST exemption across the country, Canadians will be able to buy essentials like groceries, snacks, and kids clothing – all tax-free.
This new tax break will apply to:
This tax break is projected to last until February 15, 2025. By making essentially all food GST/HST free, this will deliver meaningful savings for Canadians, with real relief at the cash register.
In addition, working Canadians will receive direct support with a new Working Canadians Rebate. Canadians who worked in 2023 and earned up to $150,000 will receive a $250 cheque in early spring 2025. This rebate will put money directly into the hands of the middle class—those who have worked hard to manage inflation. This measure will benefit 18.7 million Canadians, offering them the extra help they need to cover everyday expenses.
As families come together over the holidays, many will be decorating Christmas trees, sharing meals, or enjoying cozy nights in. With this announcement, we're making it easier for Canadians to enjoy the things that matter most, putting more money in their pockets for what they truly want and need.
QUOTES
“Today’s announcement delivers real relief for Canadians—putting more money in your pocket just in time for the holidays. With a GST vacation and a new rebate for working Canadians, we’re helping families afford what they need and save for what they want, offering meaningful savings at the cash register and support where it’s needed most.”
Vance Badawey, Member of Parliament representing Niagara Centre, Parliamentary Secretary to the Minister of Transport
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