The shrink ray machine Taggart uses to shrink his gifts is similar to the shrinking machine used in "Honey, I Shrunk the Kids" (1989). Matt Frewer, who plays Taggart, played Big Russ Thompson in that film.
Santa's Sleigh, driven by none other than the Aussie Santa himself, Jim Taggart, is the same sleigh used in the movie "Elf" (2003). It is, however, worse for the wear.
Alex Ferris and Ava Hughes, who play Boy and Girl, also appeared together in the finale of Harper's Island (2009).
There's a nod to "The Princess Bride" as Carter tells the kids to go back to their game and the boy, feigning indifference, tells him he can finish the story, as Peter Falk and Fred Savage did.