Canada’s House of Commons Standing Committee on Finance (FINA) has recommended for the second time that the country’s new budget proposal “exclude aircraft from the Luxury Items Tax Act and place a moratorium on the luxury tax on aircraft pending further industry consultation.” This latest opinion is presented in FINA’s recent report submitted to the government summarizing recommended priorities in advance of the 2024 federal budget release in mid-April.
The recommendation follows a period in which FINA requested comments on various aspects of the upcoming budget. The Canadian Business Aviation Association (CBAA) and other general aviation associations have been fighting the tax since it was initially proposed in 2019 and continued their battle after it was adopted in 2022. In addition to the exemption recommendation, the report also adopted three other CBAA motions.
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