To help drive up its credit card and retail banking business, CIBC, a large, national Canadian bank, entered into an agreement with Air Canada in October 2003 in relation to the Aeroplan Miles Program. In 2004, the agreement was assigned to Aeroplan. Under the agreement, Aeroplan would promote and refer Aeroplan members and other members of the public to apply for CIBC’s credit cards. Holders of CIBC’s credit cards would be given Aeroplan Miles, which could then be redeemed for flights, merchandise, or gift cards. In exchange, CIBC would pay Aeroplan a fee, computed using a formula based on the number of Aeroplan Miles issued.
Source: goodservicetax.com
Latest Posts in "Canada"
- New GST Voluntary Disclosure Guidelines: Major Changes to CRA’s VDP Now in Effect
- Navigating GST/HST on Domestic and International Freight Transportation Services in Canada
- Final 2025 GST/HST Credit Payments Released for Eligible Canadians on October 3
- Ensuring Compliance: Québec’s Uniform Fiscal Documentation and Reporting Requirements
- Navigating Canada’s Complex Sales Tax System: GST, HST, PST, and QST Explained
