Ottawa's new "Luxury Tax" on cars and boats | Page 2 | GTAMotorcycle.com

Ottawa's new "Luxury Tax" on cars and boats

timtune said:
Cottages are a "toy" for the rich. Why no tax on them?
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Define cottage. I'm not rich, but have a cottage. My dad bought the land in '49, and he and his buddies built it in a weekend; 16' X 20". Lasted over 50 years with only a bit of relevelling, until an arsonist burned it down. We rebuilt with wood milled on site. No plumbing; use an outhouse and haul water from the lake or home (for drinking). That's a cottage, and I'd object strongly to extra taxes on it. Already pay a premium because it's sparsely populated, almost the same taxes as my old house. Premium on hydro for delivery, same garbage rate as a house with 6 people in it.

Got a X000 sq ft fully serviced building that could reasonably be lived in year-round? I say you can tax them. Also agree about capital gains, which is part of the reason we keep it simple, so the value doesn't go through the roof.
 
Capital gains are only a percentage of the earned equity , they don’t take all the money . Let the value skyrocket, your still only paying a percentage, you get all the rest .




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timtune said:
Cottages are a "toy" for the rich. Why no tax on them?
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Cottages are highly taxed. Cottagers that have another primary residence pay 2-3x the tax that local residents pay -- and a lot of the time they don't use or have access to the same level of services as in-town locals.

My SIL has a family cottage in Minden, it's a nice cottage but still a cottage... no basement, no central HVAC, lake water, no gas, and it's not winterized. It's worth about the same as my house in Markham, she pays $10,000 a year in property tax - more than 3x what the average Minden Hills townsfolk pay.
 
I'm sure the poor will enjoy seeing the rich pay the extra tax on the Lambos, Ferraris etc but how much money does that raise?

I wouldn't be surprised if the A/C tax on almost every car sold in Canada brought in more. Smoke and mirrors.

The tax will bring in a few millions but, at the rate the Liberals are buying votes, the money will be gone like flash powder.
 
Lyndsay said:
Define cottage. I'm not rich, but have a cottage. My dad bought the land in '49, and he and his buddies built it in a weekend; 16' X 20". Lasted over 50 years with only a bit of relevelling, until an arsonist burned it down. We rebuilt with wood milled on site. No plumbing; use an outhouse and haul water from the lake or home (for drinking). That's a cottage, and I'd object strongly to extra taxes on it. Already pay a premium because it's sparsely populated, almost the same taxes as my old house. Premium on hydro for delivery, same garbage rate as a house with 6 people in it.

Got a X000 sq ft fully serviced building that could reasonably be lived in year-round? I say you can tax them. Also agree about capital gains, which is part of the reason we keep it simple, so the value doesn't go through the roof.
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some people call them camps. try that word with the tax collector maybe?
 
raginduck said:
We know where they buy from... If we knew exactly what they bought.. someone could track it... and use that to cause harm to someone in the household.
If someone knew they bought certain food items every Wednesday... it's possible someone could taint those items on Wednesday morning... type of thing.
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You say that like it’s a bad thing.
 
Most , if not all now , waterfront community have figured out you can double the tax or triple on cottages on the water and people pay it . It’s not a deterrent. The billionaires are pushing the millionaires out of Muskoka .

The new thing is your business buys the cottage , you host staff training sessions there and promise local employment with hired grounds crews and caters . You can then negotiate a tax break with the municipal govt, the rich are really not inconvenienced by any of this.
Average people are inconvenienced by this .
And it’s all posturing by our elected officials. 100k is a luxury vehicle? Yeah you can spend 100 on an F150.

Let’s look at the number of foreign owned “Canadian” companies and the percentage of money shipped offshore into tax havens , then we have a conversation. Oh wait , to many friends of government officials may benefit from that , look away…..



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gsxr guy said:
Anyone know why boats are 250 and planes are 100? Politicians like boating?
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"My name is Elmer Fudd, millionaire, I own a mansion and a yacht!" Perhaps, planes are too new to the game?
 
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