Canadas tax holiday begins. Heres what to expect – National [Video]

Canadians heading out to do some holiday shopping this weekend will notice some of the tax on various products knocked off as the federal government’s temporary “tax holiday” goes into effect Saturday.

The two-month tax break is expected to save taxpayers an estimated $1.5 billion, and will reduce that amount from federal revenues, the parliamentary budget officer (PBO) said in a costing note published Monday.

The “tax holiday” is in effect until Feb. 14, 2025.

Basic groceries like fresh fruits and vegetables, most milk products, fresh meat, poultry and eggs already have no GST/HST, but prepared foods like sandwiches, salad and pre-made meals, as well as snacks like chips, candy and baked goods will see the GST/HST dropped.

Non-alcoholic drinks like coffee, tea, carbonated drinks and juices, as well as beer and malt beverages are eligible for the tax break, in addition to wine, cider and sake with a certain level of alcohol content.

However, …