Good Afternoon BIA Members,
I've spoken with a number of you in the past couple of days about the Federal government's proposed HST/GST tax break for consumers slated to run from December 14, 2024 to February 15, 2025.
At the moment this motion is still being discussed in Parliament so it has NOT yet been passed. My sources think that the NDP will side with the Liberals in order to get this passed.
In the meantime you all need to review the list of what will be tax exempt if/when this passes. I've included a link below which lists everything. This is an extensive list covering all sorts of things for children, books of all kinds, xmas trees including any kind of decorative trees both natural and artificial, alcoholic beverages - EXCLUDED are spirits/INCLUDED all other types of alcoholic and non-alcoholic beverages, a wide list of food, candy and snacks.
This is going to prove to be quite challenging for many of you as you will need to identify what items you sell that will have to be tax exempt and figure out your payment systems in order to delete the tax entry.
Once this has been passed in Parliament I will let you know right away as Dec. 14 is right around the corner.
Here's the link:
Thanks,
