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Vacation Ownership News & Updates

Canadian Resort & Travel Association

CRTA MEMBER NEWS

GST/HST tax holiday: What you need to know

Source: Restaurants Canada

The government of Canada has announced a list of items which will be exempt from Goods and Services Tax (GST) and Harmonized Sales Tax (HST) from December 14, 2024, to February 15, 2025. The GST/HST will be fully and temporarily relieved on holiday essentials, like groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts.

Bank of Canada makes another hefty rate cut

with slower pace of cuts going forward

Source: CBC News

The Bank of Canada lowered its interest rate by 50-basis points to 3.25 per cent on Wednesday, but signalled a slower pace of rate cuts moving forward as it focuses on keeping inflation close to target.

The decision marked the fifth consecutive reduction since June. In October, the central bank cut rates by a half-point for the first time since the pandemic.

B.C. lawsuit alleges Airbnb is offering unlicensed real estate brokerage and travel agent services

Source: CBC News

The B.C. Supreme Court has certified a class-action lawsuit against Airbnb that alleges the short-term rental company has breached provincial consumer protection laws by offering unlicensed real estate brokerage and travel agent services.

Ware's lawsuit, first filed in April 2022, alleges Airbnb is not licensed anywhere in Canada to provide real estate or travel agent services, nor is it registered as a money services business with the federal government.

Global Airlines Expect Record Passengers Flows in 2025

Source: BNN Bloomberg

The global airline industry stands to earn $36.6 billion in net income in 2025, driven by a record 5.2 billion passengers taking to the skies, the industry’s top lobby group said in its annual forecast.

The outlook represents a 16% gain on 2024 figures. Profit margins for the industry will be 3.6%, higher than the 3.3% margins in 2024, the International Air Transport Association said.

Ottawa unloads its Air Canada stake, cashing in on

the airline’s 67-per-cent share price surge

Source: Globe And Mail

The federal government has sold its roughly 6-per-cent stake in Air Canada in the past few days, according to a confidential source, capitalizing on the airline’s surging share price over the past three months.

The sale caps a three-year journey that saw Ottawa buy Air Canada shares and offer the carrier $5.9-billion worth of loans as part of a bailout package in April, 2021. At the time, the hope was that the financial support would shore up the finances of Canada’s largest airline after it lost billions of dollars amid pandemic shutdowns.

Labour minister unveils steps to end Canada Post strike

Source: CTV News

The Canada Post strike could end as early as next week.

Labour Minister Steven MacKinnon said he believes negotiations are not working. It will be up to the Canada Industrial Relations Board to decide if it agrees. If it does, it will force staff to resume work.

Postal workers began their strike four weeks ago, halting mail and package deliveries across the country. If they’re forced to resume, staff will continue to work under the current collective agreement until May 22, 2025.

Canadian Resort & Travel Association

3434 McKinley Beach Dr. #404

Kelowna, BC V1V 0H3

Canada

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