
September 6, 2022
Luxury Tax Memo
Effective September 1st, 2022, the Government of Canada has introduced a luxury tax on the importation and sale of certain vehicles and aircrafts exceeding $100,000 CAD, and vessels exceeding $250,000 CAD. The value threshold is inclusive of any fees, duties, or excise duties and taxes applicable to the subject vehicle at the time of import. …