Part 1/6:

Major Tax Relief Measures Announced Ahead of Holidays

As the holiday season approaches, Canadians are being offered significant financial relief from the federal government. In a dramatic announcement by Prime Minister Justin Trudeau while in Toronto, new affordability measures were unveiled, addressing the economic strains many families are experiencing during this time of the year.

Temporary Tax Breaks

If approved by Parliament, the measures will lead to the elimination of the Goods and Services Tax (GST) and the Harmonized Sales Tax (HST) on essential goods for two months beginning December 14. The proposal includes several key components:

GST exemption on all groceries: This includes all forms of grocery items.