Dogwood Express Newsletter |
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In This Issue:
- Finance Minister Katrine Conroy tabled British Columbia’s 2023 budget on February 28, 2023
- Is Providing Lodging for an Employee a Taxable Benefit?
- New Funding Aims to Keep Ferry Fares Affordable
- ChatGPT AI asked to create a blog on sustainability and eco-friendly practices
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Dear BCLCA Member:
Jamie Cox, BCLCA President and Executive Director, Joss Penny attended the BC Tourism & Hospitality Conference March 1-3 in Prince George. The purpose, to meet with fellow tourism operators and providers to discuss current and future happenings, as well as build relationships. The conference had many exceptional plenary sessions and workshops to challenge the mind. One that really resonated was the keynote closing remarks by Anna Pollock, Founder, Conscious Travel.
Anna discussed the path to regenerative travel (smaller environmental footprint and greater societal handprint protecting nature and the local ecosystem). Anna painted a picture of tourism past, present and future to suggest that the hospitality and travel sector does have a unique and powerful role to play in revitalising economies, places, and people if it returns to its essential purpose and role.
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Side meetings are very much a part of the conference and both Jamie and Joss met with people such as TIABC chair JJ Belanger (pictured on the right with Jamie), DMOs CEOs, government employees and fellow operators to inform them about Glamping, camping and RVing needs in the province of British Columbia.
BCLCA Ideas Forum Nov 6 - 8
Face-to-face meetings provide a bond and educational opportunity that far exceeds online learning and e-meetings. Therefore, we encourage you to save the date and plan to attend the next BCLCA Ideas Forum November 6, 7 and 8 in Nanaimo on Vancouver Island. |
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FINANCE MINISTER KATRINE CONROY TABLED BRITISH COLUMBIA'S 2023 BUDGET ON FEBRUARY 28, 2023
The BC Finance Minister outlined a number of new spending measures and tax credits to renters, families, and everyone in between, while also forecasting a $4.2 billion deficit in the upcoming year.
The BC Budget 2023 estimated that the province’s surplus for the 2022-23 fiscal year was $3.592 billion, compared to the $5.461 billion deficit projected in the previous budget. This surplus is primarily related to higher taxation revenue, which isn’t expected to continue in the upcoming fiscal years.
From a fiscal perspective, the province continues to project budget deficits over the next three years: $4.2 billion in 2023-24; $3.8 billion in 2024-25; and $3.0 billion in 2025-26.
BC Budget 2023 outlined significant capital spending on BC’s health, housing and education sectors.
Health Care – providing an additional $6.4 billion in health care funding over three years with $867 million dedicated for mental health and addictions services. The budget also proposes free prescription contraception for BC residents.
Students – expanding the K-12 school food programs and doubling student loan maximums to $220 per week for individuals and $280 per week for students with dependents. In addition, the affordable payment amount for student loans will only be 10% of their annual household income per year instead of 20%.
Housing – providing $1.7 billion in funding over three years to support new housing development. The government also announced a new pilot project to provide financial incentives to homeowners to develop new secondary suites on their principal residence to rent to long-term renters.
Business tax measures of note:
- No changes to the corporate or personal tax rates, or the $500,000 small business limit.
- A new refundable BC renter’s tax credit to support low- and moderate-income renters.
- Automated external defibrillators (AEDs), kits containing AEDs and parts and services for AEDs are exempt from PST.
- The Carbon tax rate will increase annually by $15 per tonne until the rate reaches $170 per tonne in 2030.
Sources: Grant Thornton LLP Insights, Union of BC Municipalities, and Government of BC Budget 2023 Papers
For more in-depth reading and analysis visit:
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IS PROVIDING LODGING FOR AN EMPLOYEE A TAXABLE BENEFIT?
Many tourism operators provide living quarters for employees, either free, as a perk of the job, or subsidized (partly paid by the employee), and the question relates to whether this lodging is considered by Canada Revenue Agency to be part of the wages or salaries of the employees.
Board and Lodging
You may give your employee board and lodging which means that you provide them with accommodations and, in some cases, food. If you provide only meals to an employee, see Meals.
If you provide free lodging, or free board and lodging, to an employee, the employee receives a taxable benefit. As a result, you have to add to the employee's salary the fair market value of the board and lodging you provide. Report this amount in box 14, "Employment income," and in the "Other information" area under code 30 at the bottom of the employee's T4 slip.
If you provide subsidized lodging, or subsidized board and lodging, to an employee, the employee receives a taxable benefit. As a result, you have to add to the employee's salary the fair market value of the board and lodging you provide, minus any amount the employee paid. Report this amount in box 14, "Employment income," and in the "Other information" area under code 30 at the bottom of the employee's T4 slip.
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NEW FUNDING AIMS TO KEEP FERRY FARES AFFORDABLE
The BC government recently announced they are taking action to lower fare increases for people who rely upon BC's coastal ferry service through $500 million in new funding for BC Ferries.
Through a recent submission to the BC Ferries commissioner and the impacts of global inflation over the past 18 months, it was clear BC Ferries users could face fare increases of 10.4% a year for the four-year period of 2024 to 2028. With this $500-million investment, the BC government’s goal is to keep annual average fare increases below 3% a year. Final fare increases will be determined by the BC Ferries commissioner.
The increase in core costs like fuel, along with higher inflation are factors in driving up overall costs for BC Ferries. The $500 million will also support greenhouse-gas-emissions reduction through electrification of vessels and other initiatives to green the fleet and operations.
The preliminary annual fare increases (price cap) for the next four-year period commencing April 1, 2024 should be determined by March 31st, 2023.
Read the official announcement HERE.
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ChatGPT AI ASKED TO CREATE A BLOG ON SUSTAINABILITY AND ECO-FRIENDLY PRACTICES
To test the power of ChatGPT an Open AI system that interacts in a conversational way Brian Searl, Insider Perks, Inc demonstrated the power of the tool to Joss Penny, BCLCA Executive Director.
The ChatGPT AI program was asked to write a blog on sustainability and eco-friendly practices and in a matter of minutes the AI churned out an article and by using a series of queries such as asking it to improve grammar or tone, the AI rewrote and added to the article. Please note none of the facts, items and suggestions have been altered or checked for accuracy - they are raw.
Blog written by ChatGPT AI- Note not fact checked. READ MORE
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BC LODGING & CAMPGROUNDS ASSOCIATION
209, 3003 St. Johns Street, Port Moody BC V3H 2C4
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