Timeflys
Well-Known Member
- Dec 7, 2013
- 738
- Boat Info
- "Frequent Flyer"
2002 Sundancer 360
- Engines
- Merc Horizon 8.1s
As Creekwood points out, in Canada, no tax on personal property but they have come up with another “make the rich pay” solution. An extra 10% will be tacked on to the sale price of boats, cars, and airplanes (above a threshold) in addition to the 13% HST (harmonized sales tax).
A total of 23% tax on an item!!
Brilliant!!
“When it is implemented on September 1, the luxury tax will be calculated as the lesser of either 20% of the total value of new boats sold for recreational use above the prescribed $250,000 threshold, or 10% of the unit’s full value. Adding insult to injury, the luxury tax will itself be subject to federal sales tax.”
https://boattest.com/article/canada...spite-projected-c21bn-impact-boating-industry
“Jan Willem De Jong, managing director of Neptunus Yachts in St. Catharines, Ont., said he could lose the next year’s worth of work if the tax comes into effect. His team of up to 50 people produces two or three yachts a year priced at more than $4-million each.”
https://www.theglobeandmail.com/bus...ers-brace-for-cancelled-orders-under-liberal/
A total of 23% tax on an item!!
Brilliant!!
“When it is implemented on September 1, the luxury tax will be calculated as the lesser of either 20% of the total value of new boats sold for recreational use above the prescribed $250,000 threshold, or 10% of the unit’s full value. Adding insult to injury, the luxury tax will itself be subject to federal sales tax.”
https://boattest.com/article/canada...spite-projected-c21bn-impact-boating-industry
“Jan Willem De Jong, managing director of Neptunus Yachts in St. Catharines, Ont., said he could lose the next year’s worth of work if the tax comes into effect. His team of up to 50 people produces two or three yachts a year priced at more than $4-million each.”
https://www.theglobeandmail.com/bus...ers-brace-for-cancelled-orders-under-liberal/