Luxury tax on the way

[sandecker]

New 10% luxury tax on the way (on top of current GST/HST) courtesy of re-elected Trudeau. Cars/planes/boats costing over $100k. Best get your orders in soon for loaded m3/m4 ultimate, CS, M5 etc - I guess someone has to pay for his never ending deficits right?

Once this tax goes into effect - don’t anticipate any government to rescind it!

Will be interesting to see how it’s implemented and whether any Loopholes can be exploited...

[bobblehead]

Does putting down a deposit count (prior to this proposed taxes in place )? Or will it be based on title transfer

[FreeDarko]

This is for all of Canada? Used Cars as well?

I also wonder how it would work on a lease? Maybe someone from BC can chime in since they have already been subjected to this type of tax

[sandecker]

No real details as yet other than extra 10% on vehicles over $100k - that’s 23% tax in Ontario! Federal tax so applies across Canada on top of the provincial rate.

[Maitre_Absolut]

Originally Posted by sandecker

No real details as yet other than extra 10% on vehicles over $100k - that’s 23% tax in Ontario! Federal tax so applies across Canada on top of the provincial rate.

yes and you get to pay 23% tax using income that was taxed 50%.

[DOMs335D]

Easiest way to avoid it, is to have a trade in that pushes the invoices below 100k.

[bobblehead]

I think they are taxing based on the new car price Msrp

[BigHunk]

Originally Posted by Maitre_Absolut

yes and you get to pay 23% tax using income that was taxed 50%.

It's already 26.5% in BC.

Well who would said that substitute drama teacher would decimate economy so much, and thinking more taxing is gonna bring more revenue

[canukgtp]

Yes because Mr Harper, the economist ran nothing but surplus, didn't decimate the public service, implemented perfect solutions to everything and was a shining light of positive across the entire country hahaha

[SYT_Shadow]

I'm not sure what people are surprised about. This is what liberals are all about.

And it's never enough either. You'll end up like Holland that, if memory serves me right, has a 200% tax on cars if you go over like 60k MSRP.
You know, because 'screw the rich bastards'.

This is one of the core differences between living in the States and growing up in Europe. In Europe, the government has chosen for you.

Let's put some examples:
Situation: you want to have a horse
Europe: you'd better be a millionaire
US: you can choose to live really far from civilization and have a 2h commute so you
can afford a property large enough to have a horse

Situation: you want a powerful car
Europe: good luck with that. You'd better have a crapton of money. Yearly registration
rates are based on CO2 output. Doesn't matter whether you drive 5k miles/year, it is
simply cost prohibitive
USA: if you want to buy yourself a dream car, like an M3, yet eat Ramen noodles all
day that is up to you

Situation: you want to live somewhere with a garage to work on your hobbies, for example your car
Europe: again, you'd better be a millionaire
USA: pretty much anyone can live in a shithole with a garage


The list goes on and on and on.

[///M4ster Yoda]

Originally Posted by SYT_Shadow

I'm not sure what people are surprised about. This is what liberals are all about.

And it's never enough either. You'll end up like Holland that, if memory serves me right, has a 200% tax on cars if you go over like 60k MSRP.
You know, because 'screw the rich bastards'.

This is one of the core differences between living in the States and growing up in Europe. In Europe, the government has chosen for you.

Let's put some examples:
Situation: you want to have a horse
Europe: you'd better be a millionaire
US: you can choose to live really far from civilization and have a 2h commute so you
can afford a property large enough to have a horse
Situation: you want a powerful car
Europe: good luck with that. You'd better have a crapton of money. Yearly registration
rates are based on CO2 output. Doesn't matter whether you drive 5k miles/year, it is
simply cost prohibitive
USA: if you want to buy yourself a dream car, like an M3, yet eat Ramen noodles all
day that is up to you
Situation: you want to live somewhere with a garage to work on your hobbies, for example your car
Europe: again, you'd better be a millionaire
USA: pretty much anyone can live in a shithole with a garage


The list goes on and on and on.

Why fools vote liberals into office is beyond me

[SYT_Shadow]

Originally Posted by ///M4ster Yoda

Why fools vote liberals into office is beyond me

they tell a beautiful story of peace, love, equality, etc.
It's a really nice one and some people are deceived by it.

What begins as
'tax the shit out of the super rich' becomes
'tax the shit out of the rich', then
'tax the shit out of the upper middle class' and finally
'tax the shit out of the middle class'

[sandecker]

Originally Posted by BigHunk

It's already 26.5% in BC.

Well who would said that substitute drama teacher would decimate economy so much, and thinking more taxing is gonna bring more revenue

So 26.5% becomes 36.5% in BC!
And how’s that $2/litre gas working out? Go green! Meanwhile, BC ships 80% of Canada’s coal exports to climate friendly countries such as China and India while protesting pipeline expansion so that they can properly virtue signal to the rest of the world.
Anyway, at this rate we’ll all be driving golf carts in 10 years - enjoy that M3/M4 while you can!

[Yuzuuu]

Ouch. There goes my plan to upgrade

[Refined]

100k hardly buys what I would consider a "luxury" vehicle. Pickup trucks are encroaching on six figure territory these days.

[allies_jh]

I'd like to buy the front half of the car for 50k and the back half for 50k. And I'll throw in $1 for you to put the halves together for me after I buy both halves. Good plan right? Lol

[svr21]

Glad I read this

[svr21]

I just moved to ON from bc lol. Considering getting a used gene2 r8 for a little while now, I better pull the trigger soon after reading this. This sucks because when I want to sell my car the demand would be much lower which means more depreciation if I buy the car now. I pray that this legislation doesn't pass.

[BigHunk]

Originally Posted by sandecker

So 26.5% becomes 36.5% in BC!
And how’s that $2/litre gas working out? Go green! Meanwhile, BC ships 80% of Canada’s coal exports to climate friendly countries such as China and India while protesting pipeline expansion so that they can properly virtue signal to the rest of the world.
Anyway, at this rate we’ll all be driving golf carts in 10 years - enjoy that M3/M4 while you can!

Not just that, they dump raw untreated sewage into the ocean, hypocrisy as its finest.
Premium fuel is now 1.70 per liter.