Bill C-78 introduces amendments to the Excise Tax Act to implement a temporary GST/HST holiday between December 14, 2024, and February 15, 2025. The proposed list of exempt items includes certain groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts. PBO estimates this measure will reduce federal revenues by $1.5 billion in 2024-25. PBO also examined the potential impact of the Bill on federal compensation to provincial governments that collect the Harmonized Sales Tax...
