SUBSCRIBE | ONLINE RATES | HOME | *FEATURE STORIES
Posted Thursday May 9, 2019
New Tax on local hotel rooms will raise money for tourism marketing
Waterloo Region area municipalities will be implementing a tax on local hotel rates (called a municipal accommodation tax) beginning July 1, 2019. This four per cent tax – which will generate an estimated $3.3 million a year – will be used for tourism marketing of Waterloo Region across Ontario and beyond. The funds will be shared between the Waterloo Region Tourism Marketing Corporation (50 per cent), participating lower tier municipalities (40 per cent), and the Region of Waterloo (10 per cent). The Region of Waterloo will enter into agreements with each area municipality to flow funds to the Region. The Region will use our portion of funds to develop tourism through initiatives like grants for cultural events and festivals.
exchangemagazine.com is distributed twice weekly; Tuesday and Thursday
Not a Subscriber? Receive more articles on business issues
Sent directly to your email in-box.