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Luxury tax scaled back: ‘We really underestimate the wealth that exists in the Canadian economy’

Summary by Loonie Politics

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 Press.

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BNN Bloomberg

Lean Left

Luxury tax scaled back: ‘We really underestimate the wealth that exists in the Canadian economy’

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.

2 hours ago·Canada

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The Toronto Star

+4 Reposted by 4 other sources

Lean Left

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.

4 hours ago·Toronto, Canada

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