TORONTO — Ontario won’t be extending the staycation tax credit for another year, despite the industry’s call for an extension as it continues to recover from the pandemic.
Neil Lumsden, Ontario’s Minister of Tourism, Culture and Sport, said the province is supporting the sector in other ways, including $48.1 million for festivals and events and $19.1 million in support for Regional Tourism Organizations in 2022-23.
Recently, a joint report from the Ontario Chamber of Commerce and the Tourism Industry Association of Ontario (TIAO) indicated the sector would not fully recover until 2025. The report suggested several ways for the province to help, including making the staycation tax credit permanent, which allows Ontarians to claim 20 per cent of eligible travel accommodations on their income tax.
“To take away incentives that benefit both the tourism industry and families needing a bit of help to be able to travel our beautiful province during a time of high inflation truly makes no sense,” wrote Green Party Leader Mike Schreiner in a statement.