Tariffs and how it will impact Corvette update.

I wonder if the Feds will enact something to help reduce or eliminate the Luxury Tax while Tariffs are in effect?

Its not just GM Corvettes feeling the effects of this tax...all the brands are facing very reduced luxury sales as a result. Tariffs just lower the coffin...
Would be but I doubt it. Reducing taxes on luxury items or what are perceived as “rich” people is very unpopular.
 
I wonder if the Feds will enact something to help reduce or eliminate the Luxury Tax while Tariffs are in effect?

Its not just GM Corvettes feeling the effects of this tax...all the brands are facing very reduced luxury sales as a result. Tariffs just lower the coffin...
Ah , don't hold your breath on that one......be nice though to see them come through on at least ONE of the things they promised during " the most important election of our lifetime " . Speaks for itself.
 
I wonder if the Feds will enact something to help reduce or eliminate the Luxury Tax while Tariffs are in effect?

Its not just GM Corvettes feeling the effects of this tax...all the brands are facing very reduced luxury sales as a result. Tariffs just lower the coffin...
So is the boat industry and they have a $250K exemption. People are refusing to pay it on boats and walking away as well.
Don't look for anything to happen with the budget on Tuesday concerning the luxury tax. It's a cash cow for the gov't
that is going to announce billions of expenditures on "building" projects, during the budget. I doubt there will be any mention
of the luxury tax when the budget is announced.
 
I wonder if the Feds will enact something to help reduce or eliminate the Luxury Tax while Tariffs are in effect?

Its not just GM Corvettes feeling the effects of this tax...all the brands are facing very reduced luxury sales as a result. Tariffs just lower the coffin...
Extremely unlikely, they are starved for monies. They have never adjusted the luxury tax due to inflation so it is slowly encompassing more and more vehicles.
 
So is the boat industry and they have a $250K exemption. People are refusing to pay it on boats and walking away as well.
Don't look for anything to happen with the budget on Tuesday concerning the luxury tax. It's a cash cow for the gov't
that is going to announce billions of expenditures on "building" projects, during the budget. I doubt there will be any mention
of the luxury tax when the budget is announced.
If there is any action on the Luxury Tax grab it will be an increase not a reduction. Which won't matter if they don't get support for the budget. What do you want to bet that at least three MP's are out sick with the flu , lol. And guess from which party. Could be deja vu all over again.......
 
If there is any action on the Luxury Tax grab it will be an increase not a reduction. Which won't matter if they don't get support for the budget. What do you want to bet that at least three MP's are out sick with the flu , lol. And guess from which party. Could be deja vu all over again.......
I heard they don't have the votes to pass it by themselves and if it doesn't pass that could generate another election.
 
I heard they don't have the votes to pass it by themselves and if it doesn't pass that could generate another election.
It's a minority government. They will never have enough by themselves. Either the NDP or the Bloc need to help pass it.
 
It's a minority government. They will never have enough by themselves. Either the NDP or the Bloc need to help pass it.
Unless of course some of the Cons are out sick as 1stvette suggests might happen.
 
Unless of course some of the Cons are out sick as 1stvette suggests might happen.
Wasn't the Conservative MP's I was alluding to. Same handful that basically called the shots for the couple of years prior to the last election would be my guess. Let's hope it doesn't result in an election . If everyone shows up and votes along party lines though that could be the result. As you said the last thing we need or want is a Liberal majority.
 
I heard they don't have the votes to pass it by themselves and if it doesn't pass that could generate another election.
Yes . They are 3 seats short of a majority. And yes it is a confidence vote , they lose and taxpayers get to spend an estimated $570,000,000 on another election.
 
Not with Carney the way he seems to be going. Lets see what's up with the budget.
Could be scary . Would they dare to increase the GST ? Or the retirement age ? One easy target would be the Luxury Tax . We shall see.
 
Perhaps that's why Denis gave his away?
lol.... Denis didn't give his away. I made a bet with him over one of his C8 predictions a while ago. I gave him the option when he lost of making a small donation to CCF instead but strangely enough, he advised that he was particular about charities he donated to. I don't consider CCF a charity but each to their own I guess....
 
Thanks for clearing up the Denis situation. Now can someone on this site fill everyone in on the "Vette Coin" deal? When I posed the question to "AI", all I got back was "LOL"...
For your bathroom reading....no idea how they came up with this, lol.
VetteCoins on the Canadian Corvette Forums are a form of community currency or points used within the forum. Members accumulate VetteCoins through their participation, and these coins do not fluctuate with the prime interest rate; they are more like a fun, harmless cryptocurrency or virtual points system. Some members accumulate large amounts of VetteCoins, with discussions even mentioning someone close to reaching half a million coins. The coins seem to have a social or emotional support aspect within the forum community but no clear indication of redemption or external monetary value.VetteCoins are a unique feature for engagement and recognition among Canadian Corvette enthusiasts on this forum ��.
On the Canadian Corvette Forums, VetteCoins can be redeemed for certain opportunities or rewards within the forum community. One example is a redemption offer where members can redeem 20,000 VetteCoins by contacting the forum admin or hitting a redemption button to take advantage of a specific offer. The forum also organizes events and wagers where members can use VetteCoins for chances to win prizes. However, since the forum is a not-for-profit site, the coins mainly serve as a fun and engaging community currency rather than having direct monetary value or wide-ranging redemption options. The coins can be used for account upgrades, donations, or participation in forum events or purchases related to the community's activity ��.In summary, VetteCoins on Canadian Corvette Forums are redeemable primarily for special community offers, event participation, or the opportunity to support the forum through account upgrades and donations, rather than being redeemable for physical goods or external rewards.
Earning more VetteCoins on the Canadian Corvette Forums isn’t tied to a single universal list; it typically depends on the forum’s own participation rules and any active promos. Here are common ways communities often reward engagement, which may apply here:Participate regularly: posting thoughtful replies, starting helpful threads, and contributing to ongoing discussions often earns activity-based coins.Complete simple actions: new member sign-ups, profile completeness, or introductory posts sometimes trigger a small coin grant.Engage with featured events: special events, challenges, or contests hosted by the forum may award bonus VetteCoins for participation or winning.Leave quality content: posting detailed posts, guides, or tutorials that help other members can be rewarded with extra coins.Referral or promo campaigns: occasional referral programs or time-limited promotions may offer coin bonuses for bringing in new members or completing specific tasks.Context for youIf you’re aiming to maximize earnings, look for pinned announcements, the “VetteCoins” or “Rewards” sections, or threads titled with redemption or earning opportunities, and follow any listed instructions precisely. Many forums also document the current earning rates or tiered bonuses in those pages.Note
 

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