Forecasted sales of luxury cars, planes and boats in Canada are expected to drop 15 per cent over the next five fiscal years, the note predicts — a projected hit to the economy of around $2.88 billion.Article content
Draft legislation published in March requires those involved in the sale or import of luxury vehicles, planes or boats to register with the federal government — allowing both the tracking of sales and imposition of the new luxury tax. The entire amount is also payable at the time of sale or import into Canada, regardless if it was purchased outright or over time.
Motor vehicles subject to the luxury tax must carry retail prices exceeding $100,000, be equipped to accommodate fewer than 10 passengers and weigh under 3,856 kilograms.
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Won't hurt me...or the millions of Canadians who are middle & low income. Buy big, spend big, pay big taxes.
I just don’t see the average consumer worrying about this too much🤷♂️😂
Glad I bought my G5 last year.
This reads like a ‘have pity on the rich’ piece.
I am not worried!
Beautiful. Do it.
Weird, another made up tax from JustinTrudeau
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Source: nationalpost - 🏆 10. / 80 Read more »
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Source: nationalpost - 🏆 10. / 80 Read more »