Select Luxury Items Tax Could Leave Canada’s Aerospace Grounded – Urgent Government Action Required
Ottawa, Canada – November 28, 2023 – The Aerospace Industries Association of Canada (AIAC) and the International Association of Machinists and Aerospace Workers (IAMAW) are sounding the alarm on the severe and negative impacts of the Select Luxury Items Tax Act. An updated study conducted by Professor Jacques Roy of HEC Montréal revealed that more than 3,800 jobs are currently at risk across Canada’s aerospace sector, with 19 aircraft orders already cancelled, totaling over 1.5 billion dollars in lost revenue.