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Old 15-12-2021, 11:20   #1
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Thumbs up Canada Luxury tax on boats postponed

Canadian luxury tax implementation delayedIBI Premium Content, by Craig RitchieDecember 15, 2021Vancouver boat show
Levy on new boat sales to have been implemented on January 1 pushed back with details to be released in early 2022
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Old 16-12-2021, 05:26   #2
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Re: Canada Luxury tax on boats postponed

Select Luxury Goods Tax
https://www.canada.ca/en/department-...goods-tax.html

Canada’s new luxury goods tax
https://www.bdo.ca/en-ca/insights/ta...ury-goods-tax/


Canadian luxury tax implementation delayed ~ IBI Daily News*
Levy on new boat sales to have been implemented on January 1 pushed back with details to be released in early 2022.
https://www.ibinews.com/regulatory/c.../40783.article

* IBI Magazine – in print or digital versions – distributed free of charge to those working with a qualifying business in the leisure marine industry.
Register ➥ https://account.ibinews.com/cclogin?...ww.ibinews.com
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Old 16-12-2021, 05:52   #3
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Re: Canada Luxury tax on boats postponed

Quote:
Originally Posted by GordMay View Post
Select Luxury Goods Tax
https://www.canada.ca/en/department-...goods-tax.html

Canada’s new luxury goods tax
https://www.bdo.ca/en-ca/insights/ta...ury-goods-tax/


Canadian luxury tax implementation delayed ~ IBI Daily News*
Levy on new boat sales to have been implemented on January 1 pushed back with details to be released in early 2022.
https://www.ibinews.com/regulatory/c.../40783.article

* IBI Magazine – in print or digital versions – distributed free of charge to those working with a qualifying business in the leisure marine industry.
Register ➥ https://account.ibinews.com/cclogin?...ww.ibinews.com

That's an almost verbatim copy of the disastrous 1991 luxury tax in the U.S. Did the government not study the U.S. experience?


https://www.washingtonpost.com/archi...-fad8c42cf55b/


"How to sink an industry and not soak the rich", in the left-leaning Washington Post.


I think there's a pretty broad consensus that the luxury tax was a disaster -- raised almost no revenue, destroyed lots of jobs, did a lot of damage. What are they thinking in Ottawa?
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Old 16-12-2021, 10:39   #4
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Re: Canada Luxury tax on boats postponed

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What are they thinking in Ottawa?
i've been sayin that ever since JT became "our" PM
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Old 16-12-2021, 11:23   #5
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Re: Canada Luxury tax on boats postponed

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... I think there's a pretty broad consensus that the luxury tax was a disaster -- raised almost no revenue, destroyed lots of jobs, did a lot of damage. What are they thinking in Ottawa?
One might better ask, ARE they thinking, in Ottawa?
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Old 16-12-2021, 11:37   #6
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Re: Canada Luxury tax on boats postponed

this is peanuts tax compared to EU 19-27% is a tax on almost everything.
when recycling garbage we must pay 19-27% tax
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Old 16-12-2021, 12:07   #7
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Re: Canada Luxury tax on boats postponed

It's Canada's worst kept secret that in Ottawa they do NOT think. The Constitution of "Canada's Natural Ruling Party" forbids it, I understand :-)

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Old 16-12-2021, 12:08   #8
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Re: Canada Luxury tax on boats postponed

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One might better ask, ARE they thinking, in Ottawa?
Have they ever?
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Old 16-12-2021, 13:49   #9
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Re: Canada Luxury tax on boats postponed

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this is peanuts tax compared to EU 19-27% is a tax on almost everything.

when recycling garbage we must pay 19-27% tax


Of course you are aware Canada has both provincial and federal sales taxes.
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Old 16-12-2021, 16:54   #10
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Re: Canada Luxury tax on boats postponed

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Of course you are aware Canada has both provincial and federal sales taxes.

Canada has LOTS of taxes cuz Canadians LOVE taxes!
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Old 16-12-2021, 17:27   #11
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Re: Canada Luxury tax on boats postponed

Quote:
Originally Posted by Dockhead View Post
That's an almost verbatim copy of the disastrous 1991 luxury tax in the U.S. Did the government not study the U.S. experience?


https://www.washingtonpost.com/archi...-fad8c42cf55b/


"How to sink an industry and not soak the rich", in the left-leaning Washington Post.


I think there's a pretty broad consensus that the luxury tax was a disaster -- raised almost no revenue, destroyed lots of jobs…
Thanks for posting the WP link. I was at the apex of my pre-kids sailing life when this was enacted. At least they were quick (in government terms) to realize their own stupidity.

Does Canada produce any of the products they are looking to tax?
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Old 16-12-2021, 18:06   #12
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Re: Canada Luxury tax on boats postponed

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Canada has LOTS of taxes cuz Canadians LOVE taxes!

Not really ! But we love the services like healthcare that the taxes fund.
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Old 16-12-2021, 18:21   #13
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Re: Canada Luxury tax on boats postponed

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Not really ! But we love the services like healthcare that the taxes fund.
Wait until you really need a doctor, you can't get a family doctor in Ottawa. And you still have to pay your takes.
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Old 16-12-2021, 18:22   #14
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Re: Canada Luxury tax on boats postponed

bgallinger said: "Canada has LOTS of taxes cuz Canadians LOVE taxes!"

Hm.. I believe it was SCJ Oliver Wendell Holmes, that much admired Yankee, who had the perspicacity to observe that taxes are the price we pay for living in a civilized country.

We Canadians DO welcome American opinion — when it has merit ;-)

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Old 16-12-2021, 18:36   #15
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Re: Canada Luxury tax on boats postponed

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Originally Posted by B_Hunter45 View Post
Wait until you really need a doctor, you can't get a family doctor in Ottawa. And you still have to pay your takes.
Shortage of family doctors is a problem across Canada... but it also is a problem worldwide, including the USA... https://www.usnews.com/news/health-n...american-lives

Here in BC, we have received truly excellent health care. Happy to have our taxes pay for it (rather than having to shell out of our pockets, like "some places")
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