As U.S. tariffs diminish Canadian trips south, Ontario's hospitality sector advocates for a revival of the 2022 staycation tax credit. Initially launched to support pandemic recovery, the credit provided 20% back on accommodation expenses. With nearly 500,000 fewer trips to the U.S. this February, industry leaders believe restoring this incentive could benefit local businesses and residents. The Ontario government, while monitoring economic developments, has not confirmed plans for reinstatement, but recent advocacy emphasizes the need for support amid shifting travel priorities.
Asked if the province would consider bringing back the tax credit, Balfour said the government 'will continually monitor the daily developments regarding tariffs and the potential impact on our tourism and culture sector.'
Given current economic uncertainties, reviving this program would yield significant benefits for Ontario businesses, workers, and residents,' says a letter from the Ontario Restaurant, Hotel and Motel Association (ORHMA) addressed to Premier Doug Ford.
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