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GST break could cost Ottawa $2.7 billion if provinces don’t waive compensation, says PBO

The federal government's GST holiday could cost Ottawa $2.7 billion if provinces with a harmonized sales tax ask for compensation, according to the parliamentary budget officer.
The cost to Ottawa will significantly decrease if provinces with an HST do not demand compensation for lost revenue.
Ontario has stated it will not seek compensation from Ottawa, which could lessen the financial impact.

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True North News

Liberals’ GST holiday to cost $2.7b after provincial compensation: PBO report

The Trudeau government’s temporary GST tax break will cost around $2.7 billion to compensate provinces with a harmonized sales tax, according to the Parliamentary Budget Officer’s latest report. PBO Yves Giroux released a report on Monday which estimates that 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 …

3 months ago

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The Epoch Times

Ottawa Faces $2.7B Loss from GST Break if Provinces Don’t Waive Compensation: PBO

Ottawa’s GST holiday could cost as much as $2.7 billion if provinces with a harmonized sales tax (HST) don’t waive their right to compensation, according to a newly released report from the parliamentary budget officer. The GST holiday legislation, known as the “Tax Break for all Canadians Act,” was passed in the House of Commons at the end of November. The bill is awaiting its third reading in the Senate before it can become law. The two-month …

3 months ago·New York, United States

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castanet.net

+25 Reposted by 25 other sources

GST break would cost Ottawa $2.7B if provinces with HST asked for compensation

The federal government's GST holiday would cost as much as $2.7 billion if provinces with a harmonized sales tax asked for compensation, the parliamentary budget officer said on Monday.

3 months ago·Kelowna, Canada

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Financial Post

GST break could cost Ottawa $2.7 billion if provinces don’t waive compensation, says PBO

OTTAWA — The federal government’s GST holiday would cost as much as $2.7 billion if provinces with a harmonized sales tax asked for compensation, the parliamentary budget officer said on Monday.

3 months ago·Canada

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Global News

‘Tax holiday’ could become a ‘hot mess’ for businesses, CFIB warns - National

The legislation is set to go into effect on Saturday, removing the goods and services or harmonized sales tax from dozens of items, including certain groceries.

3 months ago·Toronto, Canada

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CTV News

+4 Reposted by 4 other sources

GST break could cost Ottawa $2.7B if provinces don't waive compensation: PBO

The federal government's GST holiday would cost as much as $2.7 billion if provinces with a harmonized sales tax asked for compensation, the parliamentary budget officer said on Monday.

3 months ago·Canada

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