Luxury Tax - Gliders - Petition

General Club Information in the last 180 days - Posts open to Club members only
Post Reply
Charles Petersen
Posts: 69
Joined: Sun Jul 05, 2020 1:59 pm

Luxury Tax - Gliders - Petition

Post by Charles Petersen »

The Feds have proposed a luxury tax on cars, boats and airplanes. The threshold to define 'luxury' is $250,000 for boats but only $100,000 for gliders.

YFC paid $115,000 for ZH, a decade-old K-21. And I'm told that $100,000 doesn't buy much in the way of airplanes, - perhaps a couple of decades-old 172.

So there is a petition to raise the threshold on aircraft. FWIW, please sign this petition as a Canadian pilot. It might help.

The link is:https://petitions.ourcommons.ca/en/Peti ... 926vT-I_QY
David Ridding
Posts: 8
Joined: Sat Jul 04, 2020 2:01 pm

Re: Luxury Tax - Gliders - Petition

Post by David Ridding »

Glad to see a petition has been started. I considered posting about this a month or so back. Whew knew a $100k airplane is more luxurious than a $249k boat?
Keith Laidlaw
Posts: 6
Joined: Wed Jul 01, 2020 12:19 pm

Re: Luxury Tax - Gliders - Petition

Post by Keith Laidlaw »

Does the tax apply to all purchases (new/used, business/personal) or are business acquisitions exempted?
User avatar
Jock Proudfoot
Posts: 14
Joined: Sun Jul 05, 2020 11:21 am

Re: Luxury Tax - Gliders - Petition

Post by Jock Proudfoot »

I think ~
The tax is remitted by the seller at the time of sale
So far ~
The only exemptions are for commercial aircraft and aircraft with more than 39 seats
Keith Laidlaw
Posts: 6
Joined: Wed Jul 01, 2020 12:19 pm

Re: Luxury Tax - Gliders - Petition

Post by Keith Laidlaw »

I foresee a lot of gliders selling for $99,999.99!

Any idea of the tax rate and when this is to be proposed as law (next budget?)
David Ridding
Posts: 8
Joined: Sat Jul 04, 2020 2:01 pm

Re: Luxury Tax - Gliders - Petition

Post by David Ridding »

From what I have read it is only on NEW cars, boats, aircraft.
James Lemke
Posts: 16
Joined: Sun Jul 05, 2020 9:59 am

Re: Luxury Tax - Gliders - Petition

Post by James Lemke »

Crazy that aircraft have a lower thresholdthan watercraft. Signed.
Post Reply