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 CANADIAN
CURRENCY, BROKERAGE &
TAX INFORMATION
Canada is the number one international
destination for US-sponsored meetings and conventions,
and can also accommodate delegations from countries
around the globe.
Access to Muskoka is easy – from anywhere
in the world – located just 90 minutes
from Toronto's Pearson International Airport.
Destination Muskoka Canada would
be pleased to assist you with any questions you
may have regarding
currency, brokerage and
tax issues, and can connect
you with an expert in each of these areas.
• Your meeting dollars go further!
With the exchange rate or around 0.7106 (1.4073), your Canadian
dollar rates can be discounted when they're
converted from American dollars:
$100 CAD = $81.30 US dollars*
Other rates:
$100 CAD = 62.15 Euros*
$100 CAD = 8,575.59 Japanese Yen*
$100 CAD = 42.92 Pounds Sterling*
(*As of Feb. 17, 2005)
For currency converter and more up-to-date exchange
rates, visit the Bank
of Canada.
Brokerage & Customs
Destination Muskoka Canada works
with the leading customs brokers to expedite
entry of exhibits
and convention materials to Canada.
Canada's Goods and Services Tax
Like the national sales tax or the value-added
tax paid by consumers in other countries, Canada's
7% goods and services tax (GST) is charged
by registered businesses on most goods and services
sold in Canada. Although non-resident visitors
also have to pay this tax, you will be happy
to learn that Canada has one of the world's most
generous rebate programs for foreign visitors.
Tax
Credit from Canadian Suppliers
If you qualify as a sponsor or unregistered organiser
of a foreign convention, you may be able to arrange
with Destination Muskoka Canada a possible alternative
to the payment/application/rebate process. We may be able to arrange for a
direct credit to you at the time of purchase with an amount equal to the GST
payable on accommodation, the rental of the convention facility and any convention-related
goods and services. In this case, you will not be required to pay the GST to
the supplier and the rebate application process will not be necessary.
Foreign Conventions
If you are a sponsor, an incentive house, an unregistered organiser, or an
unregistered exhibitor of a foreign convention, you may be eligible for a rebate
of the GST you pay on a wide
range of goods and services related to foreign conventions. We consider the
event to be a foreign convention if it meets the following criteria:
- at least
75% of the event's admissions at the time you determine the amount to
be charged for admissions must be reasonably
expected
to be sold or
provided
to non-residents of Canada; and
- the host or sponsor of
your event must be an organisation with a
head office situated
outside Canada, or if the organisation has
no head office,
the member
or majority of members with management and control of the organisation
must be non-residents of Canada.
You may be eligible to claim a rebate of GST
paid on certain convention supplies, including:
- convention facilities;
- advertising material
relating to the event or to products displayed
at the event;
- souvenirs and official mementos;
- audio-visual
services;
- business and simultaneous-interpretation
equipment rentals;
- translators and interpreters;
- convention
show and exhibit services;
- transportation services
between venues;
- telecommunication and electrical
services;
- speakers, educational seminars, and
course materials;
- legal, accounting, and stenographic
services;
- customs brokerage and freight forwarders'
fees;
- short-term accommodation (less than
one month);
- other goods and services required
to set up and service events; and
- 50% of the
tax paid on food, beverage, and catering services
(except non-resident exhibitors who are not
registered).
The following goods and services
are not eligible for a tax rebate: - entertainment,
such as theme nights, local tours, and admissions
to outside events;
- transportation services
(except chartered transportation services between
convention sites) to places such as restaurants,
shopping areas, museums, and golf courses;
- goods or services provided to convention
participants (except to exhibitors for promotional
purposes at the convention) and
charged separately from the admission fee, such as souvenirs, books, and videos
sold during
the event;
and
- gratuities and service charges.
For current information regarding the Visitor
Rebate Program is available at:
1-800-668-4748 (within Canada)
(902) 432-5608 (outside Canada)
long distance charges will apply
or by writing to:
Visitor Rebate Program
Summerside Tax Centre
Canada Customs and Revenue Agency
Suite 104, 275 Pope Road,
Summerside, PEI, C1N 6C6
CANADA
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