MountainYoda on Nostr: 🇨🇦 Government does not want you to own nice things… (Note: $250k CAD ~ $180k ...
🇨🇦 Government does not want you to own nice things…
(Note: $250k CAD ~ $180k USD)
🇨🇦 Luxury Tax:
For vessels priced above $250,000, the Luxury Tax is calculated as follows:
10% of the total value for the first $250,000.
20% of the excess value above $250,000.
For example, a yacht priced at $380,000 would incur a Luxury Tax of:
10% of $250,000 = $25,000
20% of $130,000 (excess value above $250,000) = $26,000 Total Luxury Tax = $51,000
The GST (Goods and Services Tax) and QST (Quebec Sales Tax) will also apply to the Luxury Tax.
Not only does this distort & destroy the buy/seller market it also impacts all those in the surrounding blue collar industry and trades that maintain, refit and manage “nice” things.
Published at
2024-08-11 18:57:06Event JSON
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"content": "🇨🇦 Government does not want you to own nice things… \n(Note: $250k CAD ~ $180k USD)\n\n🇨🇦 Luxury Tax: \nFor vessels priced above $250,000, the Luxury Tax is calculated as follows:\n10% of the total value for the first $250,000.\n20% of the excess value above $250,000.\n\nFor example, a yacht priced at $380,000 would incur a Luxury Tax of:\n10% of $250,000 = $25,000\n20% of $130,000 (excess value above $250,000) = $26,000 Total Luxury Tax = $51,000\nThe GST (Goods and Services Tax) and QST (Quebec Sales Tax) will also apply to the Luxury Tax.\n\nNot only does this distort \u0026 destroy the buy/seller market it also impacts all those in the surrounding blue collar industry and trades that maintain, refit and manage “nice” things. https://image.nostr.build/b255449581217b894fa37dfa14b65112f64b31d1dd2f4a7126a1d6ef70f77e1d.jpg ",
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