Luxury Item Tax Act.....Ridiculous

[Rruuff Day]

If it is included in the luxury tax calc, you don't need to buy the extended warranty when you buy the car. Up to three years before the deadline for the ex warranty purchase.

 

[ontcanuck]

The luxury tax will not apply to the sale of a subject vehicle priced above the price threshold where a purchaser and a vendor have entered into a written agreement for the sale of the subject vehicle before 2022 in the course of the vendor's business of selling subject vehicles.

If the vehicle was sold prior to January 1, 2022, but delivered on or after September 1, 2022, is the tax applicable?

 

[ontcanuck]

No, the luxury tax does not apply if a buyer and a vendor entered into a bona fide written agreement for the sale before 2022, as part of the vendor’s business.

forgot to add this from above

 

[Paul C7 to C8]

Governments have a pretty good track record for collecting tax money from private individuals such as us, and I'm sure they have think tanks on how to get it from all of us. Nothing new here, no surprises.

 

[unionville]

Especially those in power today, sort of the wrong side on everything!

 

[JCWP]

It would not have come to much anyway unless it was a fully loaded 3LT Z51 HTC with all the options - $122K approx.. Here in B.C., there is a provincial luxury tax as well.

 

[unionville]

Based on the statement you provided, it appears that the Canadian Revenue Agency (CRA) has implemented a new tax that will go into effect on September 1st, 2022 and will apply to purchases made during the calendar year. The statement suggests that the tax may be perceived as being burdensome or unnecessary, and that some people may consider moving to a different jurisdiction as a result.
It is important to note that taxes, including the rates and exemptions, can vary depending on the jurisdiction in which you are located. If you have specific questions about taxes, it is recommended that you contact the relevant tax authority or seek the advice of a tax professional for information about how taxes apply to your situation. It is not uncommon for governments to implement new taxes or change existing tax laws, and the rationale for such changes can vary. Ultimately, the decision of whether or not to move to a different jurisdiction is a personal one and

Yet the nut in charge has ordered two new planes for the PM office, hope he personally donates the luxury tax to the coffers, helping Canadians who he has robbed for 6 plus years!

 

[tyho]

Yet the nut in charge has ordered two new planes for the PM office, hope he personally donates the luxury tax to the coffers, helping Canadians who he has robbed for 6 plus years!

And who pays for those planes? Us, the tax paying minions that have to pay to support the nuts agenda.

 

[Cariboocreek]

You will own nothing and be happy.

 

[1st Vette]

Canadians will now face a 20% tax on vehicles over $100K at a max of 10% of the total price of the vehicle.

The tax comes into effect on September 1st. My car is expected to be delivered in August, but if the date slips to Sept, will I have to pay the tax? Or because the deal was already initially signed in 2021 am I in the clear?

I hope it comes in the next few weeks...which is likely since the ship arrived in Halifax yesterday. This will help me stop worrying. I really dont want to pay $15000 more for the exact same car.

In your case it could possibly be $35,000 .

 

[1st Vette]

In your case it could possibly be $35,000 .

From the extra cost of shipping it by freighter from BG to Halifax…

 

[EMMDEE]

I believe you might fall into the exemption period. Certain cars ordered, I believe 3 years\model years ago are not charged the lux. tax. I had to pay it $22K. It was very upsetting and it is lost money as we don't get it back when we trade it in. But I do enjoy my car and drive her as much as I can.