Luxury goods sales tax

Published: May 20, 2021
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Abstract

The introduction of a sales tax applied at the point of purchase of automobiles and aircraft valued over $100,000 and vessels valued over $250,000. The tax will only apply to new vehicles purchased for personal use. The tax rate will be the lesser of 10 per cent of the full value of the vehicle, or 20 per cent of the value above the threshold.

This tax will come into effect on January 1, 2022.