A tax on luxury cars , the C8 included ?

[gdb069]

What have I stumbled on? I thought this was a Corvette Forum? Wait ....

I had to scroll back to the top to see what the original question was and concluded : Maybe. The luxury tax may include the C8 depending on how much you pay.

PS Recent posts may be the reason most non-political forums have rules about political debate.

 

[Rruuff Day]

I agree... And I am also an offender. Guys. Lets move the politics to to an appropriate forum section. We do tend to drift when a subject thread is based on political decisions and then we get off on a bit of a political tangent. You're welcome to start a new off topic thread for political discussion.

 

[Zedder]

As I understand it based on discussions with our accounting firm, luxury tax is payable on the “taxable“ amount of the vehicle (includes frt, pdi, options etc.). It is added to the taxable amount and then HST is payable on the total. Tax on tax. Trade in value is deducted from this total after the addition of the lux tax.

 

[harshadt]

I thought trade in value was deducted before the GST/HST was applied. But not sure how this applies to the new luxury tax.

 

[Zedder]

The luxury tax is calculated and added before HST. So, a $130,000 car would have $6,000 luxury tax added. HST on $136k or $136k minus the trade in value.

 

[OakvilleC8]

I highly doubt that. It would be political suicide, too many middle class folks own homes and they vote. Whereas the luxury tax would only apply to the few who can afford high end cars, boats and planes.

It will come, 100% IMO. People will scream and they will back off slightly on the tax, then increase it as years go by.

 

[Zedder]

It moved one step closer on Thursday…

Luxury vehicle tax, DTC changes included in Budget 2022 implementation bill | Advisor.ca

Bill C-19 gives people who purchased luxury vehicles in 2021 a break

www.advisor.ca

 

[Spaz]

ANY government!!!
It's all a game to politicians! Libs say black and Cons say white in 2019. In 2020 Libs say White and Cons say black.
I get so tired of all they games they play. Give me a good old dictatorship! LOL

It is the Trudeau dictatorship. He just does what he wants legally or illegally abs nothing happens to him.

 

[Timbo]

It is the Trudeau dictatorship. He just does what he wants legally or illegally abs nothing happens to him.

So now a duly elected 3 time PM is a dictator? Hyperbolic nonsense..

 

[harshadt]

So, leaving politics aside, this tax seems like it’s happening. The question I have is will a trade in reduce the amount such that it’s below $100,000 ( Some people on the forum seem to think this), or, as per Zedder’s example, the trade in will only affect the gst payable?

 

[OakvilleC8]

So now a duly elected 3 time PM is a dictator? Hyperbolic nonsense..

He is certainly acting like one. He went about maskless, while enforcing it on others. He has clearly and literally praised China's dictatorship and Cuba. Forget all that. He gave a convicted murderer/terrorist $millions. He said that convicted terrorists in Canada would not lose their citizenship. He is literally an international embarrasement . Yet what you reply with is "3 times elected" or "stop calling him names". Im sure you also believe that Bill C10/11 is for more Canadian content. This country is doomed.

 

[Timbo]

He gave a convicted murderer/terrorist $millions.

So did Harper. Did you even read the thread?

And to call him dictator is ridiculous.

 

[Timbo]

He went about maskless, while enforcing it on others.

You expect him to wear a mask 24/7? He takes it off to talk at press conferences and to eat.

 

[Timbo]

This country is doomed.

Care to explain why we are experiencing the lowest unemployment rate in this great country's history after 6 years of liberal govt?

 

[Murray20c8]

Enough, thanks.
I've locked the thread.