Canada Luxury tax on boats postponed

[sailone3032]

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

[GordMay]

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

[Dockhead]

Originally Posted by GordMay

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?

[longjonsilver]

Originally Posted by Dockhead

What are they thinking in Ottawa?

i've been sayin that ever since JT became "our" PM

[GordMay]

Originally Posted by Dockhead

... 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?

[more]

this is peanuts tax compared to EU 19-27% is a tax on almost everything.
when recycling garbage we must pay 19-27% tax

[TrentePieds]

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 :-)

TP

[rbk]

Originally Posted by GordMay

One might better ask, ARE they thinking, in Ottawa?

Have they ever?

[goboatingnow]

Originally Posted by more

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.

[bgallinger]

Originally Posted by goboatingnow

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

Canada has LOTS of taxes cuz Canadians LOVE taxes!

[MyCatLife]

Originally Posted by Dockhead

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?

[desodave]

Originally Posted by bgallinger

Canada has LOTS of taxes cuz Canadians LOVE taxes!

Not really ! But we love the services like healthcare that the taxes fund.

[B_Hunter45]

Originally Posted by desodave

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.

[TrentePieds]

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 ;-)

TP

[sv_pelagia]

Originally Posted by B_Hunter45

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")