Canadian Government Proposes Temporary Tax Exemption with Bill C-78

The Canadian government has introduced Bill C-78, known as the Tax Break for All Canadians Act, which proposes a temporary tax exemption on certain goods. This initiative is set to run from December 14, 2024, to February 15, 2025, and aims to provide financial relief to Canadians by exempting Goods and Services Tax (GST) and Harmonized Sales Tax (HST) on a range of items.

The tax exemption will cover essentials such as groceries, prepared foods, snacks, and children's clothing. Additionally, items like restaurant meals, children's toys, books, and Christmas trees will also be included in this tax relief measure.