Technology
AI Transformations in the TV Market, USD 64.7 Billion Growth Forecast (2024-2028) Driven by Innovation and Premium Products – Technavio Report
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5 hours agoon
By
NEW YORK, Nov. 22, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global television market size is estimated to grow by USD 64.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.85% during the forecast period. Product innovation and advances leading to portfolio extension and product premiumization is driving market growth, with a trend towards advent of 8k UHD televisions. However, lack of 4k content poses a challenge. Key market players include Apple Inc., Changhong, Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips N.V., Konka Group Co. Ltd., LG Electronics Inc., Micromax Informatics Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Videocon Industries Ltd., VIZIO Holding Corp., and Xiaomi Communications Co. Ltd..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Technology (UHD and HD), Display Size (Upto 43
inches, 55-64 inches, 48-50 inches, and Greater
than 65 inches), Display Type (LCD and OLED),
and Geography (APAC, North America, Europe,
South America, and Middle East and Africa)
Region Covered
APAC, North America, Europe, South America,
and Middle East and Africa
Key companies profiled
Apple Inc., Changhong, Elitelux Australia, Funai
Electric Co. Ltd., Haier Smart Home Co. Ltd.,
Hisense International Co. Ltd., Koninklijke Philips
N.V., Konka Group Co. Ltd., LG Electronics Inc.,
Micromax Informatics Ltd., MIRC Electronics Ltd.,
Panasonic Holdings Corp., Samsung Electronics
Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony
Group Corp., TCL Electronics Holdings Ltd.,
Videocon Industries Ltd., VIZIO Holding Corp., and
Xiaomi Communications Co. Ltd.
Key Market Trends Fueling Growth
The television market is witnessing significant advancements in display resolution technology, with 8K televisions gaining traction. At CES 2018, 8K resolution televisions were introduced, offering a higher resolution standard than 4K, with approximately 8,000 horizontal pixels. Although some vendors, including LG, Samsung, and Sony, have launched 8K television series, these are currently not consumer-grade and are available at premium prices. Vendors are expected to ramp up production of affordable consumer versions in the coming years. The development of 8K-compatible content is also crucial for the growth of this market. Overall, the increasing demand for high-resolution display devices and enhanced content creation is driving the adoption of 8K televisions.
The Pay TV industry is evolving with new trends shaping the future market landscape. Pay TV models, including postpaid and prepaid services, are gaining popularity, especially in commercial sectors. Acquisitions of content providers and TV-as-a-Service (TVaaS) models are on the rise. Premium UHD content is driving demand, with territories in the technological segments of cable and satellite, as well as internet protocol, competing for consumer attention. Potential investors are eyeing the ecosystem, which includes traditional cable and satellite, digital television, and consumer electronics like Smart TVs, LCD, LED, and OLED screens. The industry offers opportunities in entertainment programs, data programs, and technologies like gaming and console compatibility. The evolution of consumer electronics, including eco-friendly designs and bezel-less displays, is also impacting the market.
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Market Challenges
The adoption of Ultra High Definition (UHD) televisions is hindered by the limited availability of 4K content. This issue is compounded by the proprietary nature of 4K media, which restricts access to a significant portion of 4K videos. Over-the-top (OTT) platforms such as Sky, BT, Amazon, and Netflix are working to address this issue by adding 4K content to their offerings. However, access to these premium 4K videos comes at an additional cost. The primary challenges with 4K and 8K resolutions are the in-home capabilities and content distribution. Broadcasters have yet to produce 4K content due to the high capital investment required for contribution and distribution. Consequently, operators may not be incentivized to provide 4K UHD set-top boxes to consumers, creating a gap between demand and supply. This content gap is expected to hinder the growth of the global television market during the forecast period.The television market is undergoing significant changes with the evolution of consumer electronics. Internet-connected, storage-aware computers have transformed content delivery, enabling access to streaming services and gaming console compatibility. Smart TV enhancements like LCD, LED, and OLED displays offer technologies such as bezel-less and frameless designs. Eco-friendliness, home office integration, and TV as art are new trends. OLED displays and curved displays add value, while foldable displays are an emerging technology. The pay TV market, including cable TV, Direct-to-Home, and fiber optic services, faces competition from disposable incomes and emerging economies fueling consumer appetite for high-definition content and over-the-top platforms. Valuation of the market relies on content integration, viewer preferences, and ultra-high-definition services. Content security systems cater to residential sectors and housing units, catering to the needs of various consumers. Spotv, a new player, aims to disrupt the market with innovative offerings.
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Segment Overview
This television market report extensively covers market segmentation by
Technology 1.1 UHD1.2 HDDisplay Size2.1 Upto 43 inches2.2 55-64 inches2.3 48-50 inches2.4 Greater than 65 inchesDisplay Type3.1 LCD3.2 OLEDGeography 4.1 APAC4.2 North America4.3 Europe4.4 South America4.5 Middle East and Africa
1.1 UHD- The television market is a significant sector in media and entertainment. Broadcasters and streaming services compete to provide engaging content to viewers. Advertisers invest heavily to reach audiences through commercials and sponsorships. Consumers continue to demand high-quality programming and convenient viewing options. Innovations like smart TVs and on-demand services shape the market’s future. Industry growth is steady, driven by advancements in technology and consumer preferences.
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Research Analysis
The Pay TV market continues to evolve, with various technological segments including Cable TV, Direct-to-Home, and Fiber optic services, catering to the insatiable consumer appetite for high-definition content. Over-the-top platforms have disrupted traditional TV viewing, offering on-demand access to premium content in Ultra-High-Definition (UHD) and technologies. Smart TV capabilities enable seamless content integration and access to eco-friendly features like energy-saving modes. Territories and markets differ, with cable and satellite dominating the residential sector, while the commercial sector embraces Internet Protocol (IP) solutions. Innovations like OLED displays, Bezel-less and Frameless designs, TVs as art pieces, Curved displays, and Foldable displays add to the excitement. UHD content and technologies are the future, transforming the TV viewing experience.
Market Research Overview
The Pay TV market encompasses various segments, including Cable TV, Direct-to-Home (DTH), Fiber optic services, and Over-the-top (OTT) platforms. Valuation of this industry is driven by consumer appetite for high-definition content and advanced Smart TV capabilities. Technological segments like Ultra-High-Definition (UHD) services and Content Security Systems are gaining traction. Residential sectors, particularly housing units, are significant contributors to the Pay TV industry. Viewer preferences and Pay TV models continue to evolve, with acquisitions and TV-as-a-Service (TVaaS) models emerging. Commercial sectors, potential investors, and territories are also part of the ecosystem. Traditional cable TV and premium content are being challenged by UHD content and technological advancements like internet protocol, gaming, and technologies. Consumer electronics evolution, such as LCD, LED, OLED, and eco-friendly designs, are enhancing the TV viewing experience. The future market landscape includes bezel-less, frameless designs, TV as art, curved displays, and foldable displays. Disposable incomes and emerging economies are expanding the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TechnologyUHDHDDisplay SizeUpto 43 Inches55-64 Inches48-50 InchesGreater Than 65 InchesDisplay TypeLCDOLEDGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-transformations-in-the-tv-market-usd-64-7-billion-growth-forecast-2024-2028-driven-by-innovation-and-premium-products–technavio-report-302313501.html
SOURCE Technavio
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Technology
Sleighing the Digital Divide with Black Friday Tech Deals
Published
1 hour agoon
November 22, 2024By
Holiday Mix & Match Deal puts tech and accessories under your tree for $200 or less!
DETROIT, Nov. 22, 2024 /PRNewswire/ — This holiday season, Human-I-T, a nonprofit dedicated to providing equitable access to technology, is making it easier than ever for holiday shoppers to access affordable tech while giving back to their community. The “Mix and Match Deal,” allows individuals to purchase devices and accessories at prices that fit any budget—all while supporting efforts to close the digital divide.
“For the past 12 years, Human-I-T has been laser-focused on three things: making technology accessible and affordable, offering digital navigation support to those who need it most, and saving our planet by keeping e-waste out of landfills,” said Graeme Jackson, Marketing and Content Manager at Human-I-T. “The ‘Holiday Mix & Match Deal’ helps us achieve all three goals, and the best part is that everyone benefits.”
Available from Friday, November 29th, through Monday, December 30th, the deal offers customers the chance to bundle one device—a tablet, Chromebook, or 2-in-1 device—with one accessory of their choice, including JBL speakers, headphones, a protective laptop sleeve, or a wireless keyboard for $200 or less.
For families, students, or job seekers who may struggle to afford essential technology, this initiative is more than a sale—it’s a lifeline. Human-I-T believes that in today’s digital world, access to reliable technology isn’t a luxury; it’s a basic human right.
“This isn’t just about shopping,” added Jackson. “It’s about providing hope, opportunity, and connection to those who need it most. When you shop with us, you’re not only getting a great deal—you’re helping to change lives.”
The Mix & Match Deal is only available for a limited time. By shopping at Human-I-T’s online store customers can brighten their holiday while directly supporting underserved communities.
Don’t wait—login to the Human-I-T store today
and give the gift of technology that gives back!
View original content to download multimedia:https://www.prnewswire.com/news-releases/sleighing-the-digital-divide-with-black-friday-tech-deals-302314632.html
SOURCE Human-I-T
Technology
Metal Machining Market to Expand by USD 18.43 Billion (2024-2028), Driven by Rising Demand in Oil and Gas Industry, Market Evolution Powered by AI – Technavio
Published
1 hour agoon
November 22, 2024By
NEW YORK, Nov. 22, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global metal machining market market size is estimated to grow by USD 18.43 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.03% during the forecast period. Growing demand for metal machining in oil and gas industry is driving market growth, with a trend towards growing adoption of automation in metal machining. However, high costs associated with metal machining industry poses a challenge. Key market players include AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd., IPG Photonics Corp., Jet Edge Inc., JTEKT Corp., Matsu Manufacturing Inc., Messer Cutting Systems Inc., Okuma Corp., Otter Tail Corp., Sandvik AB, Shenyang Yiji Machine Tool Sales Co. Ltd., TRUMPF SE Co. KG, Yamazaki Mazak Corp., FANUC UK Ltd, Mayville Engineering Co. Inc., and Jenoptik AG.
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Metal Machining Market Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 4.03%
Market growth 2024-2028
USD 18.43 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
3.71
Regional analysis
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 43%
Key countries
US, China, Japan, India, and Germany
Key companies profiled
AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd., IPG Photonics Corp., Jet Edge Inc., JTEKT Corp., Matsu Manufacturing Inc., Messer Cutting Systems Inc., Okuma Corp., Otter Tail Corp., Sandvik AB, Shenyang Yiji Machine Tool Sales Co. Ltd., TRUMPF SE Co. KG, Yamazaki Mazak Corp., FANUC UK Ltd, Mayville Engineering Co. Inc., and Jenoptik AG
Market Driver
The Metal Machining Market is experiencing significant trends in machine tools, CNC technology, and automation. CNC lathes, CNC laser machines, and specialized machines like teach-T are popular choices for metalworking processes. Vendors like HireCNC, NUM, and Synthesis offer comprehensive data and reliable market analysis, helping small and medium-sized businesses make informed vendor selections. Advancements in technology include innovative cutting tools, efficiency improvements, waste reduction, and product quality enhancement. Smart cutting tools and performance optimization are key to increasing productivity and accuracy. Predictive analytics and real-time quality assurance are essential for maintaining high product quality. Sectors like automotive, aerospace, construction, and industrial manufacturing are major consumers of metal components and require precision and quality. Key sectors include automotive for mass production, aerospace & defense for high-performance components, and industrial machinery for heavy-duty applications. The market landscape includes various tools and equipment like metal cutting tools, handheld devices, saws, grinders, shears, and specialized machines. IoT integration and 3D printing are also transforming the industry. Despite the high initial cost, the benefits of CNC technology and automation outweigh the investment for profitability and production efficiency. Vendor analysis is crucial for selecting the right CNC machines, PLCs like Codesys V3, and ARM CPUs for optimal performance.
Vendors in the metal machining market are enhancing their product offerings by incorporating automated equipment in their machining and fabrication shops. Automation streamlines production processes, boosts productivity, and maximizes machine uptime. Continuous operation of automated systems leads to increased output. Automation offers design flexibility, enabling precise parts production with tight tolerances and unique configurations. It is a cost-effective and efficient method for manufacturing intricate products with high accuracy.
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Market Challenges
The Metal Machining Market is a significant sector, encompassing machine tools, machinists, CNC technology, and various tools and equipment for metal cutting. Challenges include high initial costs, fluctuating raw materials, and the need for automation and profitability in production facilities. CNC lathes, CNC laser machines, and specialized machines like CNC milling machines dominate the market. Sectors like automotive, aerospace, construction, and industrial manufacturing utilize these machines for metalworking processes, prioritizing quality, precision, and efficiency. Advancements in technology bring innovative cutting tools, smart cutting tools, and performance optimization. Vendors like HireCNC, NUM, and FlexiumPro CNC platform offer solutions with CNC technology, IoT, and real-time quality assurance. Vendor selection is crucial for accurate market data, with reliable data analysis essential for profitability. Market sectors include automotive, aerospace, construction, industrial manufacturing, and more. Key players include CNC machines, saws, grinders, shears, gearboxes, disk brakes, and clutch plates. Cross-border trade and 3D printing are emerging trends. Vendor landscape analysis, including Codesys V3 PLC, ARM CPU, and Synthesis, is crucial for informed decision-making. Predictive analytics and quality assurance are essential for productivity increase and accuracy improvement.The global metal machining market involves the use of equipment such as CNC machines, lathes, and milling machines for metal fabrication. The high cost of purchasing and maintaining this machinery may restrict entry for small manufacturers and startups, potentially limiting market expansion. Energy consumption is significant in metal machining processes, particularly during cutting, shaping, and finishing operations. Energy-intensive processes increase operating costs, especially in areas with high electricity prices or limited energy access. Regular maintenance, repairs, and equipment upgrades are necessary for optimal performance and productivity, adding to expenses through spare parts, servicing contracts, and machine downtime.
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Segment Overview
This metal machining market market report extensively covers market segmentation by
Application 1.1 Automotive1.2 Construction1.3 Aerospace1.4 OthersType 2.1 Laser cutting machine2.2 Plasma cutting machine2.3 Flame cutting machine2.4 Waterjet cutting machinesGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa
1.1 Automotive- The automotive industry is a major consumer of metal machining products, accounting for a significant share of the global metal machining market. Metal parts, including bus bars, electrical contacts, terminals, lead frames, shields, and clips, are extensively used in various vehicle components such as chassis, fuel delivery systems, motors, engines, batteries, alternators, and brake systems. The increasing demand for personal mobility solutions, particularly in urban areas, is driving the growth of the automotive industry. Factors like population growth and government initiatives, such as incentives and regulations promoting electric vehicle adoption, are further fueling this demand. For instance, in Europe, new car registrations grew by 17.8% between June 2022 and June 2023. In India, electric vehicle sales increased by around 49.25% year-on-year to 15,29,947 units in 2023. Major automotive manufacturers, like Toyota and Volkswagen, are expanding their manufacturing capacity and introducing new models to cater to this growing demand. These developments will increase the need for metal machining products, thereby driving the growth of the global metal machining market.
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Research Analysis
The Metal Machining Market encompasses a comprehensive range of machine tools and equipment used for metal cutting and shaping. Machinists utilize various tools such as CNC lathes, milling machines, saws, grinders, shears, and specialized machines to manufacture metal components. The integration of advanced technologies like E and P systems, Industry 4.0, and automation has significantly increased profitability and production efficiency. The market is witnessing in demand for 3D printing technology, which is revolutionizing metal machining by enabling rapid prototyping and customization. Handheld devices and metal cutting tools are also gaining popularity due to their portability and ease of use. The Metal Machining Market continues to evolve, offering endless opportunities for innovation and growth.
Market Research Overview
The Metal Machining Market encompasses a comprehensive data analysis of machine tools, including CNC lathes, CNC laser machines, and specialized machines, used for metal cutting and shaping in various sectors such as automotive, aerospace, construction, industrial manufacturing, and metalworking processes. The market is driven by advancements in technology, innovations in CNC technology, and automation, leading to improvements in product quality, efficiency, and productivity. The integration of Industry 4.0, IoT, and big data analytics enables real-time quality assurance and predictive analytics for profitability and performance optimization. Vendor landscape includes key players offering solutions such as HireCNC, NUM, FlexiumPro CNC platform, Codesys V3 PLC, ARM CPU, and more. The market caters to small & medium-sized businesses and large-scale production facilities, with sectors like automotive and aerospace leading in mass production. The market includes various metal cutting tools, handheld devices, saws, grinders, shears, and specialized machines. The market faces challenges such as high initial costs and fluctuating raw material prices. Cross-border trade is a significant factor in the market’s growth, with various industrial machinery sectors like food & beverage, aerospace & defense, military equipment, and transport machinery utilizing metal machining technologies.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ApplicationAutomotiveConstructionAerospaceOthersTypeLaser Cutting MachinePlasma Cutting MachineFlame Cutting MachineWaterjet Cutting MachinesGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/metal-machining-market-to-expand-by-usd-18-43-billion-2024-2028-driven-by-rising-demand-in-oil-and-gas-industry-market-evolution-powered-by-ai—technavio-302313579.html
SOURCE Technavio
Technology
Minister Wilkinson highlights the government’s tax break for all Canadians and new Working Canadians Benefit
Published
1 hour agoon
November 22, 2024By
NORTH VANCOUVER, BC, Nov. 22, 2024 /CNW/ – The past few years have been challenging. It feels like the price of everything has gone up. And while inflation is back to the 2 per cent target and interest rates have been cut four times this year, we know that Canadians aren’t yet feeling that in their household budgets.
Our government can’t set prices at the checkout, but we can give Canadians more money in their pockets – to help them afford the things they need and save for the things they want.
Today in North Vancouver, Minister of Energy and Natural Resources, the Honourable Jonathan Wilkinson, visited local restaurant Akbar Joojeh 16th to highlight the government’s plan to put more money in Canadians’ pockets.
As Prime Minister Justin Trudeau announced on November 21, starting December 14, 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, children’s clothing, and gifts – all tax-free.
This new tax break will apply to:
Prepared foods, including pre-made meals and salads, vegetable trays, and sandwiches.Restaurant meals, whether dine-in, takeout, or delivery.Snacks, including chips, candy, and granola bars.Beer, wine, and cider.Children’s clothing, footwear, car seats, and diapers.Children’s toys, such as board games, dolls, and video-game consoles.Books, print newspapers, and puzzles, for all ages.Christmas trees.
This tax break is projected to last until February 15th. This will deliver meaningful savings for Canadians by making essentially all food GST/HST free, providing real relief at the cash register.
Working Canadians will also get some cash back. We’re doing this by providing a new Working Canadians Rebate. That means, Canadians who worked in 2023 with net earnings up to $150,000, will see a $250 cheque in their bank account or mailbox, starting early spring. With the Working Canadians Rebate, we are putting money directly into the pockets of the middle-class – those who have worked so hard to beat inflation. This will give 18.7 million Canadians that extra help to buy what they need.
We encourage Parliament and all parties to get this legislation passed quickly and unanimously, so workers and working families get more money in their pockets.
Families will be spending quality time together over the coming weeks. Some will light Christmas trees for Santa to put gifts underneath. Some will share meals with family and friends. Some might just make hot chocolate, order some take out, and stay in for a movie night. With today’s announcements, we’re making the holidays easier and helping Canadians start the new year with a little more in their pockets.
Quote
“The holiday season is when expenses are highest for many families in North Vancouver—even with inflation back down to 2 per cent and interest rates being cut four times this year. With new tax relief on groceries and holiday essentials, plus a $250 rebate for working Canadians, we are reducing costs when they are highest for Canadians. This means you can focus more on celebrating with family and friends, and start the new year off with a little extra money in your bank account.”
The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources
Quick Facts
The GST/HST would be fully relieved on the supply or importation of qualifying goods for a period beginning on December 14, 2024, and ending on February 15, 2025. Further details on the qualifying goods are available here.A family spending $2,000 on qualifying goods, such as children’s clothing, shoes and toys, diapers, books, snacks for the house, or restaurant meals would pay $100 less GST over the two-month period.Canadians who have claimed tax credits for Canada Pension Plan/Quebec Pension Plan contributions or for Employment Insurance (EI) or Quebec Parental Insurance Plan (QPIP) premiums, and those who reported income from EI or QPIP benefits, with individual net income below $150,000 in 2023, would be eligible for the Working Canadians Rebate. Eligible Canadians would begin receiving the payments starting in early spring 2025.The government is focused on making life more affordable for Canadians, with actions that are already saving families and individuals thousands of dollars a year, including:A new National School Food Program, with $1 billion over five years to provide meals for up to 400,000 more kids each year, ensuring all children have the food they need to have the best start in life, regardless of their family circumstances. The Program is expected to save the average participating family with two children $800 per year in grocery costs, with lower-income families benefitting the most.More money through the Canada Child Benefit, to help with the costs of raising children and make a real difference in the lives of children in Canada. The Canada Child Benefit, which is providing up to nearly $8,000 per child in 2024-25, is indexed annually to keep up with the cost of living and has helped lift hundreds of thousands of children out of poverty since its launch in 2016.Saving families up to $14,300 per child, per year with the Canada-wide $10-a-day child care system, which has already cut fees for regulated child care to an average of $10-a-day or less in over half of all provinces and territories and by 50 per cent or more in all others.Saving families about $730 per year with the Canadian Dental Care Plan, which is already available for children under 18, with family incomes under $90,000, because no one should have to choose between taking care of their kids’ teeth and putting food on the table.
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Minister Wilkinson highlights the government’s tax break for all Canadians and new Working Canadians Benefit
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