Canadian luxury tax.

[FSH 210 Sport]

Here’s another workin mans boat that would fall under the “luxury” tax… $184,600 USD plus 13% sales tax puts it well into the “luxury” tax range..$265,000 CDN

https://www.boatingmag.com/boats/2022-crevalle-26-hbw/?utm_source=internal&utm_medium=email&tp=i-1NGB-Et-XOw-1NTYY1-1c-16akC-1c-1NTQg6-l6zpWEgeh5-6zFtg

 

[Jim_in_Delaware]

Respectfully, while I understand your point about boat prices, I know of very few "working men" who can drop 200K+ on a new boat.

Jim

 

[FSH 210 Sport]

Respectfully, while I understand your point about boat prices, I know of very few "working men" who can drop 200K+ on a new boat.

Jim

Most if not all of the working men / professional tradesmen, that I have worked with over the past 30 years could afford a boat like that. They’d probably have to do it on a long term loan but they could and have done it.

 

[RobbieO]

@jEt_jAk @FSH 210 Sport , I don’t know guys, what you wrote makes academic sense but it’s not consistent with what I’ve seen here in CA, at least not where Yamaha sport jet boats and Waverunners are concerned. That is, the dealers within 150 miles of San Francisco sold out of their units early this year (around June), can’t keep them in stock and their waiting lists are really long, some of the boats and Waverunners on the waiting list have been paid for in full. I’d bet that many new boaters don’t know about the luxury tax but anyone who owned a boat registered in CA over the last 10 years knows and stays in it or buys new boats anyway.

Ronnie, can you tell me what the luxury tax % is in CA? When I had my new 1979 Sanger Jet, it was $65. LOL...I'm scared..

 

[Jim_in_Delaware]

Most if not all of the working men / professional tradesmen, that I have worked with over the past 30 years could afford a boat like that. They’d probably have to do it on a long term loan but they could and have done it.

LOL, then we are hanging out with different groups of people. Most folks that I know, at least those with families, would have a limit of $50 - $75K for a boat (new or used). Any other monies would be spent feeding the family, putting a roof over their heads, or keeping their cars running.

Jim

 

[Ronnie]

Ronnie, can you tell me what the luxury tax % is in CA? When I had my new 1979 Sanger Jet, it was $65. LOL...I'm scared..

1% of the current hill value. If your boat is new the tax will be about 1% of what you recently paid for it.

 

[RobbieO]

1% of the current hill value. If your boat is new the tax will be about 1% of what you recently paid for it.

Thank you Ronnie

 

[LeonPhelps]

Greedy Liberal government IMO

 

[Ronnie]

The only thing worse than an annual 1% luxury tax is an annual luxury tax greater than 1% IMHO. I never throught I’d be grateful that my boats value depreciates instead of stays the same or appreciates but I am. Used to pay $400ish a year when I first got the boat in 2012 now it’s around $280.

 

[hewettsugiyama4]

Rich people should pay more taxes since the state cannot take money from the poor and the rich. Although I may say so because I have a tiny business so far, I want some obligations to be removed. The only documents that I have now produced in my business are the papers that I make in the check stub maker service for the salaries of my 5 employees. I want everything to be extremely clean even here so that later there will be no problems at other stages of work. Perhaps I will change my mind when I have a big business with a significant turnover of money, and then I will not want to pay more taxes than other people

 

[FSH 210 Sport]

From Boat Test today…

https://boattest.com/article/how-much-will-canadian-10-luxury-tax-actually-raise?utm_medium=email&_hsmi=209047728&_hsenc=p2ANqtz-8Ei0wYYb8TYJ-gwKEWDmNjsduIRj858mctjJ82wM_Oc0BDGfKeIReU2I3LOIUO9b5xu1tawkpOS5-RswKTzFM2Ng619w&utm_content=209047728&utm_source=hs_email

 

[FSH 210 Sport]

Wow! I’m so surprised at these results. 100 blue collar jobs lost so far, what’s the lost tax revenue from those people who are out of work and are now on the dole ?

Ray Charles could have seen this coming!

https://boattest.com/article/canadian-luxury-tax-boats-falls-short-77?utm_medium=email&_hsenc=p2ANqtz-9H8ixTSdGQTsr0SKUN_SJLHUT4uWr8HJoCybN5bWUAJZcuOe4HKJQHDEHWd3RuT6Af43rrCoV6yNmd1_itYyyV6odwaA&_hsmi=319446547&utm_content=319446547&utm_source=hs_automation