Another $2000 USD price increase on all C8s

DAL said:
The price increase on the C8 represents a mere drop in the bucket for GM and will not come close to making even a dent in wage increases demanded by the Union.
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Don't look to raise our prices as we've already taken more than our fair share of the salary bump hit. Our next increase will be on options.
 
Mr.Corvette said:
Don't look to raise our prices as we've already taken more than our fair share of the salary bump hit. Our next increase will be on options.
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….$20 per month for heated seats. $10 per month for heated steering wheel. $10 per month for nav….etc…
 
I took the time today to calculate precisely what it might cost me to change from one model year to another - 2023 to 2024 C8 2LT identical spec , Frt, PDI, Lux Tax , HST - all in essentially
Based on the General Motors Build and Price ( canada ) was $23,963.00 - to up-charge to a Z06 tack on pretty much $90K more!
I find it hard to believe at these price points that the new ones are flying off the shelf. I truly believe those who purchased leading up to 2024 MY are the ones who truly made out like a bandit with value and pricing soon to be forgotten, however I wonder will Canada still continue to sell at the volumes it has been in the past or have we sold those who truly wanted one already?
A huh moment ... lol
 
Cannonball Rally said:
I thought I read in the Grey print on the GM canada build and price 23% for amounts over $100k for luxury tax ...
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Example – Luxury tax on the sale of a subject vehicle​

A registered vendor of subject vehicles sells a subject vehicle to a purchaser. The selling price for the subject vehicle is $160,000 but the registered vendor applies a discount of $10,000 to the price. The subject vehicle is sold to the purchaser for a total consideration of $150,000, which consists of a trade-in valued at $50,000 and a cash payment of $100,000. Therefore, the taxable amount of the subject vehicle for calculating the luxury tax is $150,000.
The luxury tax is equal to the lesser of:
  1. $15,000 ($150,000 × 10%)
  2. $10,000 [($150,000 − $100,000) × 20%]
The luxury tax payable is $10,000.
 
Cannonball Rally said:
I thought I read in the Grey print on the GM canada build and price 23% for amounts over $100k for luxury tax ...
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Not that I know of, but that doesn't mean much.
I've read 20% of the amount over $100,000.00, or 10% of the total, whichever is less.
Having said that, we still pay hst on top of the luxury tax.
If they were referring to a total taxation, then yes, 23% is what you should be considering. (at least in Ontario).
Perhaps one of those Accounting Gurus could step in, but I think a 2024 loaded 3LT HTC is going to run around $170,000.00, out of pocket, in your driveway.
 
Cannonball Rally said:
I thought I read in the Grey print on the GM canada build and price 23% for amounts over $100k for luxury tax ...
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Having improvements made to subject vehicles​

The luxury tax could apply when improvements are made to subject vehicles, as set out in sections 29 to 32. According to subsection 8(1), an improvement to a subject vehicle is the provision of either:

  • tangible personal property that is installed in/on or affixed to the subject vehicle
  • a service that modifies the subject vehicle and is physically performed on the subject vehicle
Improvements made to subject vehicles include car modifications. Examples of improvements made to a subject vehicle include stereo system installations, body kit installations, engine upgrades, vehicle wrap installations and window tinting services.

The luxury tax on improvements will typically only apply to improvements made to subject vehicles that were already subject to the luxury tax. However, in the event that improvements are made in connection with the sale of a subject vehicle, the calculation of the luxury tax payable on the sale of the subject vehicle would take into account the cost of the improvements.

The luxury tax on improvements will apply to improvements that total at least $5,000 made during the improvement period of the subject vehicle as determined under paragraphs 29(1)(a) and 30(1)(a). The luxury tax on improvements will be payable on the day following the improvement period.

If a sale triggered the luxury tax on a subject vehicle, the purchaser would be liable for any luxury tax payable on after-sales improvements made to that subject vehicle. Otherwise, the person that was liable for the luxury tax on a subject vehicle would be liable for any luxury tax payable on improvements made to that subject vehicle.
 
DW Ruby said:
Not that I know of, but that doesn't mean much.
I've read 20% of the amount over $100,000.00, or 10% of the total, whichever is less.
Having said that, we still pay hst on top of the luxury tax.
If they were referring to a total taxation, then yes, 23% is what you should be considering. (at least in Ontario).
Perhaps one of those Accounting Gurus could step in, but I think a 2024 loaded 3LT HTC is going to run around $170,000.00, out of pocket, in your driveway.
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Determining the retail value​

As set out in section 16, the retail value of a subject vehicle at any time is the sum of the following:

  • the fair market value (FMV) of the subject vehicle at that time
  • the total amount of any transportation or freight fees for the transportation of the subject vehicle that is not already included in the FMV
  • the total amount of any duties, taxes and fees (other than the GST/HST) imposed under an Act of Parliament that is payable on the subject vehicle that is not already included in the FMV
  • the total amount of any provincial levy and other amounts imposed under an Act of the legislature of a province that is payable on the subject vehicle that is not already included in the FMV
 
I rebuilt my dream Z06 ... lol , its 20% according to the GM calculator for luxury tax plus of course another 13% HST I believe on the total amount!
Making luxury tax now $15,497.85 or 22.5% - ouch...
Can this be accurate? Obviously trade in etc will be tax on difference for HST but I suspect based on what I read above but luxury tax is outside of anything to do with that - is it not?
I used these posted GM figures.
1000005345.jpg
 
cdnz said:
Will the CP give us a luxury tax break in lowering the current 20% by half or increase the preshold to 120 k ie. :) Have they saying anything of such? Not wanted to get political but only related to this perticular issue.
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I was able to get a question through to Pierre Poilievre through a friend of mine when the luxury tax started last fall, and the answer came back they would have to "study it" if they got in. Once they study it, my fear is they will see how much revenue it has been generating and be very resistant to remove it. I don't think making an issue about it during the campaign will do them much good. All we can do is hope as I haven't heard of a group lobbying on behalf of us.
 

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