Once Again, Politicians Believe "Private Planes" are Far More Luxe Than Reality
Last year, Canada included a proposal for a new tax on the sale of luxury autos and aircraft with a retail price over $100,000, and new watercraft over $250,000. The Canadian Owners and Pilots Association has spoken at length on the issue, attempting to explain to legislators the fact that $100,000, or $80,000 USD, doesn't quite buy an equivalent amount of luxury between the automotive and aeronautical world. The tax would be calculated at the lesser of 20% of the value above the price thresholds, or at 10% of the full value of the vehicle. Should Parliament approve the tax, it will go into effect on September 1, 2022.