Following the federal government’s announcement last week confirming Bill C-19’s luxury tax on aircrafts, the aviation sector is gearing up for detrimental impacts this Fall which will see jobs on the chopping block amidst an economic outlook that already has Canada at the knife’s edge of a recession.
The luxury tax will have serious implications as several inherent flaws in the “tax” still remain. This comes at a time when the drivers of our economic recovery and growth are already facing challenges, and will result in job losses to Canadians.
Despite Parliament’s amendment’s to C-19 – the spirit of which were to delay the date of the luxury tax’s effective date for aircraft in order to complete an economic impact analysis, the Government is pushing ahead to implement that tax as of September 1, 2022.
It is critical that Canadians are aware of the economic impact of the luxury tax and understand the significant implications that this tax will have on our industry.
We encourage you to connect directly with the Canadian Business Aviation Association and other industry leaders to learn more about the impact of the Luxury Tax on the aviation sector, and what it will mean for Canadians. See the press release attached for more detail , and reach out to Anthony Norejko, President and CEO of The Canadian Business Aviation Association (CBAA) for more information.