Canada's Department of Finance announced on 11 March 2022 the release of draft legislation for the introduction of the proposed luxury tax first consulted on in August 2021. The deadline for comments is 11 April 2022.
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Government releases draft legislative proposals to implement Luxury Tax
In Budget 2021, the government proposed the introduction of a tax on the sale of new luxury cars and aircraft with a retail sale price over $100,000, and new boats over $250,000. The tax would be ca…