British Columbians will also see smaller breaks because it is not an HST province
A retail advocate says the incoming GST holiday will turn out to be time-consuming and complex for B.C. retailers.The tax holiday approved by federal legislators Thursday lifts the federal General Sales Tax from toys, beer and wine and restaurant meals among other items for two months starting Dec. 14 until Feb. 15, 2025.
He used the example of a bookstore to underscore this. While the holiday temporarily lifts the GST off books, many bookstores sell more than just books."In fact, many of them will sell cards, candles, wrapping paper and other things that are not subject to the GST holiday, so they don't get away without re-programming." Wilson said the smallest retailers are doing one of two things when reprogramming their sales systems.
When Ottawa first announced its plans for a tax holiday, experts immediately pointed out that British Columbians stand to benefit less because some items exempt from the GST including children’s toys, board games and video game consoles are still subject to the PST. This prompted questions about whether B.C. would also lift the PST off those items for the duration of the federal tax holiday.
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