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"
- Canada Border Services Agency adjusts certain fees for inflation and GST/HST
- Alaska and Montana Consider Statewide Sales Tax Amid Fiscal Pressures and Revenue Diversification Needs
- British Columbia Expands PST to Professional Services in 2026 Budget, Effective October 1
- IMF Urges Canada to Reform Tax System for Growth and Economic Resilience
- British Columbia 2026 Budget Expands PST to Professional Services, Removes Select Exemptions
