Trudeau’s two-month tax break doesn’t go far enough: Conservatives, taxpayer advocates
https://tnc.news/2024/11/21/trudeaus-tax-break-conservatives-taxpayer-advocates/
Prime Minister Justin Trudeau announced that with NDP support, his government will pause both GST and HST sales taxes for Canadians on select goods for two months, starting weeks before Christmas.
Taxpayer advocates and Conservatives say this measure doesn’t go far enough to restore affordability in Canada.
The feds, expecting NDP support on the bill, announced a stop to GST and HST taxes on groceries, alcohol, children’s essentials such as car seats and clothing, toys, board and video games, books, and more from Dec. 14, 2024, to Feb. 15, 2025.
According to a government news release, removing the GST on qualifying goods will provide an estimated $1.6 billion in federal tax relief, though the release didn’t specify its estimate for total taxpayer savings for the HST.
It said a family spending $2,000 on the qualifying goods would save an estimated $100 in those two months. In provinces where the HST applies, such as Ontario, Newfoundland, Nova Scotia, New Brunswick, and Prince Edward Island, that same $2,000 basket will provide an estimated $260 more in savings from the HST.
“Canadians have been through a lot. They work hard. We see that. We’ve been able to get through the past couple of years, but everyone had to tighten their belts a little bit,” Trudeau said in a press conference about the announcement. “We’re there to help with money that will help people buy the things they need and save up for the things they want.”
The Canadian Taxpayers Federation responded in a news release, saying taxpayers are grateful for the tax cut but that more could be done to help struggling Canadians. Continue…