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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