April 19, 2021 – Budget 2021: You Might Want to Buy a Luxury Vehicle Before the End of 2021

by | Apr 19, 2021 | Industry Updates

Positioned to take effect January 1, 2022, the government is proposing a tax on luxury vehicles and aircraft valued at $100,000 or more and boats valued at $250,000 or more. The tax will be 10% of the purchase price or 20% on the amount over the threshold, whichever amount is less.

Source Canadian Federal Budget 2021

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