Canada Passes Bill C-78 for Tax Breaks

The Canadian House of Commons has passed Bill C-78, the 'Tax Break for All Canadians Act', which grants a two-month federal sales tax holiday from December 14 to February 15. Supported by the Liberals and NDP, the bill aims to provide $1.6 billion in tax relief on items such as Christmas trees, children's diapers, clothing, and restaurant meals. Despite this, the Conservatives and Bloc Québécois oppose the measure, labeling it a temporary 'tax trick' that fails to address long-term economic concerns. Ontario plans to match the federal tax break by removing its provincial sales tax, providing nearly $1 billion in additional relief. The GST break is intended to alleviate financial pressures amid inflation, though some criticize its exclusion of seniors and people with disabilities. The quick passage was facilitated by skipping committee review, with the NDP's support crucial for its adoption.