Quote:
Originally Posted by you&me
Congrats on the sale (did you use the new tax to push it through?  ), but the luxury tax has been officially delayed:
"Luxury Tax - Budget 2021 proposed to introduce a tax on the sales, for personal use, of luxury cars and personal aircraft with a retail sales price over $100,000, and boats, for personal use, over $250,000. The tax would be calculated at the lesser of 20 per cent of the value above the threshold ($100,000 for cars and personal aircraft, $250,000 for boats) or 10 per cent of the full value of the luxury car, boat, or personal aircraft. The Department of Finance has undertaken consultations with respect to the design of this
measure and is working to incorporate the results of this consultation into the proposed tax framework. Draft legislation, including details on coming-into-force, will be released in early 2022."
Full update here: https://www.budget.gc.ca/efu-meb/202...ccueil-en.html PDF: https://www.budget.gc.ca/efu-meb/202...EB-2021-EN.pdf
CPers rejoyce! |
Well that's good news that it has been delayed a bit.
I think when it does come into effect it is only going to push up the prices on the used market even more.
Didn't really have anything to do with the sale. More just that we were able to stumble across something that was available. He really wanted a GLS Maybach but you can't buy one for less than $100k over MSRP which is ridiculous.
I watched a G63 go through the auction yesterday a 21 with 10k on it finished at $327k and the dealer didn't sell it. Madness