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Luxury Tax - Gliders - Petition

Posted: Fri Jun 04, 2021 12:07 pm
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

Re: Luxury Tax - Gliders - Petition

Posted: Sat Jun 05, 2021 12:40 pm
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?

Re: Luxury Tax - Gliders - Petition

Posted: Mon Jun 07, 2021 10:18 am
by Keith Laidlaw
Does the tax apply to all purchases (new/used, business/personal) or are business acquisitions exempted?

Re: Luxury Tax - Gliders - Petition

Posted: Mon Jun 07, 2021 11:37 am
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

Re: Luxury Tax - Gliders - Petition

Posted: Mon Jun 07, 2021 1:39 pm
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?)

Re: Luxury Tax - Gliders - Petition

Posted: Mon Jun 07, 2021 3:38 pm
by David Ridding
From what I have read it is only on NEW cars, boats, aircraft.

Re: Luxury Tax - Gliders - Petition

Posted: Sat Jun 12, 2021 6:06 pm
by James Lemke
Crazy that aircraft have a lower thresholdthan watercraft. Signed.