Luxury Item Tax Act.....Ridiculous
- Thread starter ryanhao99
- Start date
What about religion? Can we talk about that? The good lord created smart people called engineers who were able to create a glorious car! Amen brother!
Moving this to a more relevant forum. There's a politics thread where you can sound off.
Trudeau realized that most aren’t repaying their CERB money when found to be out of compliance with requirements, so go after the hard working class
Hiding money in yatchs and jets is minimal compared to all this cashflow flowing to these intagram, tik tok, thru who knows who service companies and the porn industry. These are the people behind the scenes that so many give money to that no one even knows who they are and what agenda they are pushing and influencing politicians. And how about a luxury tax on some Luis Vutton bags? i would be curious on the immediate downtown protests that would erupt by the female side
Thanks for the compliment. Went over my build many times before I decided on what to go with. Sounds like everything is the same except I went with 3LT because I heard the leather is softer and better and think it had a few extras with it. I also ordered the lighted door sills. They took a year later to get. Same with the high wing. Had to wait for it also but managed to sell my stock Z51 wing so that was good. Love the look of the high wing if you are thinking about getting one. Doesn't interfere with your rear vision either. I think it really sets the car off. I'm happy with it.
And to add to that consider that money laundering in Canada is ridiculous. The feds have known about it since 2008 but have done nothing about it. Now instead of going after criminal money inflating housing they tax honest Canadians.
My build is over 100K and will invoke about 1200 luxury tax which is then taxed with HST. I really dont mind paying taxes but this is a ridiculous grab that does not really target those that should be paying their share. Offshore money and blind ownership rules come to mind.
Anyways, the C8 is an amazing car and well worth the pain. I hope this does not hurt Z06 sales as we need as many of them in Canada as we can get. That sound alone will put a smile on many peoples faces.
Man, more tax grab. I paid on my new 2022 C8: 5% GST and 20% PST ( 7% + additional 13%). Not sure on the new Fed tax if i bought now. Too much to read. I was thinking of buying a 1959 corvette resto-mod. from the USA; but, with all the tax and shipping decided not to. Thanks for the post.
Here is a link for the CRA announcement. I think I will not buy my C8 if this is actually affecting C8 sales.(which 99.99% will) I will not pay the greedy policymakers an extra 10% (More than 11k) on top of BC's crazy 16%+2.6% taxes on the C8.
Any thoughts? Is there a chance that this will be removed in the future? LOL
It appears something wrong with your math, HST and PST is 13% your figures don't add up, go over your figures and correct your comment.
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@unionville Not all Provinces use the same tax formula @JCWP is probably correct in his breakdown of federal and provincial taxes.
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A substantial additional “tax” or “premium” on any purchase amount above factory established MSRP and/or industry-assessed market value (as in for all real estate) … just might help minimize (not eliminate) insane pricing expectations that can influence markets/inflation and domino for increased lending rates and stressed industries. There are too many people throwing money around who cannot afford it when tides change. Doesn’t matter for those who can afford it of course. So many things will actually “right-price” when there is all-of-the-sudden … no market. Reminiscing brand new C7s marked down by up to $30k in places where there was all-of-the-sudden no market not too long after JT first got in. Not an end-to-all solution but perhaps may proactively nip more of the cause than this “luxury tax reactive measure”. JMO
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What if you buy a fancy car on BC? Are you charged BOTH the BC vehicle luxe tax AND the new Federal Luxury tax? PS: Don’t forget to multiple the total “total” by 1.05 (Gotta pay the 5% GST too.)
Do we really have to pay tax on the taxes we pay on the taxes charged on a new luxury vehicle purchase in BC?
I was not a math major but this sound prohibitive from a cost perspective.
@#$ !
Do we really have to pay tax on the taxes we pay on the taxes charged on a new luxury vehicle purchase in BC?
I was not a math major but this sound prohibitive from a cost perspective.
@#$ !
Crazy. And, as you say we have our own luxury tax. I paid 20% PST ( I guess it 7% & 13% L.T.) and 5% GST on my loaded 2022 C8 Z51 3LT HTC. All I know is I paid a total of 25%. Glad I bit the bullet and bought mine when I did instead of hoping I'd get to order this yr. or next. They never ever remove taxes. I did have a 2016 C7 trade-in which saved me a lot of tax - thank God.
Here is a link for the CRA announcement. I think I will not buy my C8 if this is actually affecting C8 sales.(which 99.99% will) I will not pay the greedy policymakers an extra 10% (More than 11k) on top of BC's crazy 16%+2.6% taxes on the C8.
Any thoughts? Is there a chance that this will be removed in the future? LOL
Yes! B.C. PST, GST, BC Luxury tax and Canadian luxury tax which on a loaded Z06 will be crazy here in B.C. for sure. Anyone want to give me their Zo6 allocation - LOL.
By the time anyone here gets a Z06 those taxes will likely be increased and a couple more added to them.
Does anyone know if the $100K threshold is before or AFTER taxes? My actual build is under the threshold however after the tax is included it's just over.
Before taxes but after all addons including freight and pdi. Not sure how the cost of any extended warranty plays into it. Trade in does not save you from the luxury tax either. And to top it off the hst/gst are after the luxury tax is added.
How can they charge a tax on a tax??
They already do- hst/gst on the air tax.
