The GST/HST holiday could encourage Canadian consumers to spend more, but businesses need to prepare for the tax holiday.
Here is some practical information about this GST/HST holiday poland number for whatsapp and how businesses can prepare for it:
What is the GST/HST holiday?
What could be the impact of the tax holiday on businesses?
How can businesses prepare for the GST/HST holiday?
What is the GST/HST holiday?
Canada temporarily sets GST/HST to 0% on select goods and services.
For restaurants and retailers, this means they will not charge GST/HST on eligible purchases during the holiday period to their customers, reducing their costs and encouraging them to spend more.
The GST/HST holiday is not just an incentive for consumers—it’s a great opportunity for businesses to increase sales, clear inventory and attract new customers. By being well prepared and promoting the tax holiday, you can maximize the benefits of this temporary measure for your business.
When does the GST/HST holiday start?
The GST/HST holiday begins on December 14, 2024 and ends on February 15, 2025, a period of two months.
What products does this tax holiday apply to?
The temporary GST/QST holiday in Canada generally applies to certain essential goods, such as eligible food and beverage products, certain children's products, and certain household items. The Government of Canada has provided a handy list of different eligible goods and services with examples.
What could be the impact of the tax holiday on businesses?
We won't know the full impact of the GST/HST holiday until it ends, but it could help businesses:
Increase sales: Customers may be encouraged to spend more when prices are lower, which could boost your holiday sales;
Attract new customers: Price-conscious customers may frequent your business when they normally wouldn't;
How can businesses prepare for the GST/HST holida