2019 Federal Budget: How It Impacts You
Today at 4pm, Finance Minister Bill Morneau tabled the 2019 Federal Budget – his last before the fall federal election. The Hotel Association of Canada (HAC) was invited to the stakeholders’ Budget Lock-Up prior to its official release. During this closed session, HAC had the opportunity to review advance copies of the Budget documents and meet with senior Finance officials to discuss the details.
As projected, with re-election hopes front and centre, this budget had a strong focus on individuals, particularly millennials and baby boomers – two significant segments who will undoubtedly play a key role in shaping the results of the election campaign.
Among several overarching measures of interest to the hotel sector, including key tourism announcements, Budget 2019 features a welcoming commitment to address tax non-compliance associated with the digital economy. In a one-on-one discussion, Finance officials confirmed that this measure will include a focus on those who rent through short-term rental platforms like Airbnb. HAC has long-advocated for measures to target tax fairness and tax avoidance, to help address existing inequities currently enjoyed by foreign digital players, and is pleased to see this positive step in the right direction. HAC looks forward to continuing to work with Government on this initiative in the coming weeks.