The new luxury tax could significantly impact your bottom line as a vehicle importer. With the tax levied on top of GST and PST, your taxes can add up quickly if not managed properly. Read on to find out more about this new tax and its implications.
If you buy or import a vehicle valued above $100,000 into Canada, you will be required to pay an additional luxury tax on your vehicle's value. We detail what you need to know on this luxury tax on cars.
Find out more about measures proposed in Budget 2021 that could have significant potential impacts on Canadian and non-resident businesses engaged in international trade.