{"id":7306,"date":"2022-04-13T16:18:47","date_gmt":"2022-04-13T20:18:47","guid":{"rendered":"https:\/\/www.spiegelsohmer.com\/?p=7306"},"modified":"2022-04-13T16:18:47","modified_gmt":"2022-04-13T20:18:47","slug":"aircrafts-cars-and-boats-the-looming-luxury-tax","status":"publish","type":"post","link":"https:\/\/spiegelryan.com\/en\/2022\/04\/13\/aircrafts-cars-and-boats-the-looming-luxury-tax\/","title":{"rendered":"Aircrafts, cars and boats: the looming luxury tax"},"content":{"rendered":"<p>On March 11, 2022, the Federal government confirmed its intention of implementing a new luxury tax on purchases and leases of aircrafts and cars of $100,000 or more and boats of $250,000 or more. The tax will be the lesser of:<\/p>\n<ul>\n<li>10% of the value of the luxury item;<\/li>\n<li>20% of the value of the luxury item over the threshold ($100,000 or $250,000).<\/li>\n<\/ul>\n<p>The tax is meant to be paid by registered dealers at the time of sale, in addition to GST, QST, and other provincial sales taxes charged on the purchaser. Some exemptions can apply in specific circumstances. The tax would come into force as of September 1, 2022.<\/p>\n<p>Industry stakeholders and purchasers of such luxury products should do well to review the application of this new tax with their advisors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 11, 2022, the Federal government confirmed its intention of implementing a new luxury tax on purchases and leases of aircrafts and cars of $100,000 or more and boats of $250,000 or more. The tax will be the lesser of: 10% of the value of the luxury item; 20% of the value of the [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-7306","post","type-post","status-publish","format-standard","hentry","category-taxation-law"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Aircrafts, cars and boats: the looming luxury tax - Spiegel Ryan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.spiegelsohmer.com\/en\/2022\/04\/13\/aircrafts-cars-and-boats-the-looming-luxury-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aircrafts, cars and boats: the looming luxury tax - Spiegel Ryan\" \/>\n<meta property=\"og:description\" content=\"On March 11, 2022, the Federal government confirmed its intention of implementing a new luxury tax on purchases and leases of aircrafts and cars of $100,000 or more and boats of $250,000 or more. 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