Canada Luxury Tax Raised $913M Before Aircraft, Boat Levies Ended
The levy brought in $913.4 million before Ottawa removed aircraft and vessel taxes amid concerns about damage to manufacturers and sales.
- A luxury tax on cars, planes, and boats raised over $900 million before being reduced due to concerns about its impact on manufacturers.
- Between 2023 and 2025, the tax generated nearly $390 million annually, more than twice the Parliamentary Budget Office's forecast.
- Starting in September 2022, the tax imposed 10% on cars and planes over $100,000 and yachts over $250,000.
- The Liberal budget removed the tax on aircraft and vessels to support the aviation and boating industries, while maintaining the tax on vehicles.
12 Articles
12 Articles
A luxury tax on cars, aircraft and boats brought back more than 900 million before being reduced due to concerns about its negative impact on manufacturers.
The Toronto Star
Luxury tax on planes, cars yielded over $900M. Now it’s been scaled back
MONTREAL - A luxury tax on cars, planes and boats yielded more than $900 million before it was scaled back amid concerns about the negative effect on manufacturers.
Luxury tax on planes, cars yielded over $900M over two years
A luxury tax on cars, planes and boats yielded more than $900 million before it was scaled back amid concerns about the negative effect on manufacturers. In the two fiscal years between 2023 and 2025, the tax on pricey conveyances was pouring nearly $390 million a year into federal coffers — well over double the forecast from the Parliamentary Budget Office — according to figures obtained through an access-to-information request by The Canadian …
Luxury Tax On Planes, Cars Yielded Over $900M, But Has Been Scaled Back
A luxury tax on cars, planes and boats yielded more than $900 million before it was scaled back amid concerns about the negative effect on manufacturers. In the two fiscal years between 2023 and 2025, the tax on pricey conveyances was pouring nearly $390 million a year into federal coffers — well over double the forecast from the Parliamentary Budget Office — according to figures obtained through an access-to-information request by The Canadian …
Coverage Details
Bias Distribution
- 63% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
