Statement by AIAC in Response to Federal Government’s Luxury TaxJuly 15, 2022
Mike Mueller, President and CEO of the Aerospace Industries Association of Canada issued the following statement regarding Finance Canada’s announcement on the Select Luxury Items Tax:
“We are at a loss to understand why the federal government is moving forward with this tax on manufacturing, disregarding many recommendations provided by industry to lessen the economic impact.
“Further, we are disappointed implementation is moving ahead without an economic impact study considering an amendment to the legislation passed unanimously by all parties in the House of Commons urging the government to gather more information before implementation. This tax will negatively impact our industry and cause job losses across Canada.
“The government has exempted aircraft export sales but several provisions remain that will negatively affect manufacturing sales and cause job losses across Canada.
“We will continue to raise this with the government.”