01-11-2023, 11:01 AM | #1 |
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Luxury Tax Self-Assessment
In the infinite wisdom of our glorious Prime Minister Justin Trudeau, our new G80/G82 rides will be subject to a Luxury Tax starting September 1, 2022.
Apparently in the fine print of the new Luxury Tax, we are supposed to do a self-assessment and payment of said luxury tax for any improvements we make to our rides after delivery of the vehicle. How many here will or have self-assessed the additional Luxury Tax for any mods added to your G80/G82 and forwarded the proceeds to the Feds? Though, it is not clear how such a provision will be enforced. Will Chrystia Freeland come by our homes and remove that shiny new wrap and front lip if we do not pay up?
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01-11-2023, 11:25 AM | #2 | |
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without the Luxury shit,I save up almost extra $2500. Also I suppose get the car in 2022,but ends up 2023,pay extra 3k ( I believe BMW increase 3K in 2023)
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01-11-2023, 11:54 AM | #3 |
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I will definitely do a self assessment on the supplied piece of paper... will mail it out to Trudeau himself.
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MPower2932.00 BigRedG80127.00 SpinalTap109.50 Dual.V8105.50 V's M39.00 CanuckM665.50 Patsfan1997227.50 Bimmer_Pilot244.50 ObsessedM3C83.50 |
01-11-2023, 02:07 PM | #4 |
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01-11-2023, 02:22 PM | #5 |
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Can you Donkeys in Toronto PLEASE stop voting for these evil Liberals.
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BigRedG80127.00 ChrisM41626.00 V's M39.00 MPower2932.00 supersonic111.50 Th3DarkSide368.50 pizza240800.50 Bimmer_Pilot244.50 |
01-12-2023, 03:07 PM | #6 |
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01-13-2023, 01:26 AM | #7 |
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Sounds like double taxation. You are ysing your already taxed miney to buy the parts. Does that mean you could now be taxed on any improvements you make to anything?? Eg house, clothes etc 🙂
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01-13-2023, 01:38 AM | #8 |
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It will be crazy in B.C
https://www.icbc.com/brochures/Pages...-vehicles.aspx The Luxury is extra top on |
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01-13-2023, 07:31 AM | #9 | |
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What is even more amazing is that the Luxury tax is applied to electric and hybrid vehicles as well. Was not the whole point of the government pushing EVs is to save the environment rather than pricing them out of reach of most people. But then again Trudeau is not known of logic and making sound decisions.
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01-13-2023, 01:27 PM | #10 | |
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The point is EV in BC only 5% GST. The preown expensive cars still 20-25% depend on the price even though no Luxury tax.
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02-10-2023, 03:59 PM | #11 |
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I noticed an BMW dealership ad in BC that says something like, ask us how not to pay lux tax. How is that possible on a vehicle > 100k?
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04-17-2023, 09:17 PM | #12 |
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My CA suggested I buy any extras I'm sure of before I take delivery of the car and they won't be subject to that stupid luxury tax. Small "loophole," I guess.
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04-17-2023, 11:21 PM | #13 |
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04-18-2023, 10:42 AM | #14 |
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Nope. When my status changed to In Transit on March 27, the CA told me his system had an ETA of April 24. But since then, he's received comm from BMW that my car is in a holding facility awaiting transport to the port of exit, pending congestion clearance. So, if I'm lucky I'll get the car in May.
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04-18-2023, 11:50 AM | #15 | |
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04-18-2023, 08:29 PM | #16 |
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That puts me at end of May. I hope it's sooner than that but based on my experience thus far, I'm not holding my breath.
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05-01-2023, 11:44 AM | #17 |
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Yes.
My only mod plans are to put a dent in every body panel so that the value of the car becomes less than $100,000 to avoid paying luxury tax.
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05-02-2023, 08:27 AM | #18 |
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A long time ago in the U.S. they tried a luxury tax on cars boats and planes. It didn’t last very long and was eventually phased out. It wasn’t good for business, people weren’t buying as much new items. Hopefully Canada realizes this sooner than later. I’m finally in the position to start purchasing nicer things in life and my purchasing power decreases over night. Incredible lol. Way to reward hard working people.
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05-02-2023, 08:37 AM | #19 | |
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