The federal government has announced that there will be a tax break from December 14th, 2024 to February 15th, 2025 on a broad range of consumer products, which is estimated will provide $1.6 billion in federal tax relief.
In addition to relieving the 5% GST, the HST component will be also fully removed in Ontario, Newfoundland & Labrador, Nova Scotia, New Brunswick, and Prince Edward Island.
On September 14, 2023 the Prime Minister announced upcoming legislation to remove the Goods and Services Tax (GST) on the construction of new apartment buildings.
The announcement also called on the provinces participating in the Harmonized Sales Tax (HST), or that impose their own provincial sales tax, to match the federal government’s rebate. In a twitter post the Ontario Minister of Finance has already indicated they will “work closely with Ottawa to do the same when it comes to Ontario’s portion of the HST.”
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