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  • The Canadian government needs to absorb the lessons from the luxury boat tax in the U.S. and the provincial luxury tax in B.C., and avoid repeating these same mistakes federally in Canada, particularly for such a key sector to the country’s economic prosperity. - Source: Internet
  • The new tax impacts vehicles with retail sales prices over $100,000. It amounts to the lesser of 20% of the value above the threshold, or 10% of the full value of the “luxury car.” - Source: Internet
  • At Lexus of Kingston, we have an expert Finance Centre with extensive knowledge. Our finance staff can help you with financing a vehicle or leasing a vehicle by helping you secure auto loans and curate payment plans. We can also help you determine the fees and taxes you may be subject to upon purchasing a Lexus vehicle from our dealership. Rely on us to make tax calculations for you, including the new Luxury Tax, present you with different options, and help you find the most affordable vehicle purchase. - Source: Internet
  • If a new Lexus falls below the stated threshold price of $100,000, it will be exempt from the new Luxury Tax. This is exciting as it makes owning a luxury Lexus possible and more affordable than ever! Some luxury Lexus vehicles, such as the 2022 Lexus LC, 2022 Lexus LS, and the LC Convertible, may be subject to the Canadian luxury tax. Reach out to us for more details on our Lexus vehicles and their prices and for assistance on how to choose the best Lexus vehicle for you! - Source: Internet
  • The proposed luxury tax will result in the loss of many of these well-paying Canadian jobs, and threatens to destroy the investments made by dealers into their businesses. This will also have trickle down effects to other sectors of the Canadian economy. Furthermore, Canadian auto-parts-makers manufacturing for luxury cars will also be hit hard by the reduced luxury car sales – particularly in Ontario. - Source: Internet
  • At Lexus of Kingston, we strive to provide our customers with an in-depth understanding of the automotive market. That includes everything from vehicle reviews and maintenance tips to more information on taxes and fees. On September 1st, 2022, Canada’s proposed luxury goods tax went into effect, primarily targeting luxury vehicles and automobiles, private planes, and yachts. Here’s what you need to know about this new policy and how it affects you as an owner of a luxury vehicle like a Lexus. - Source: Internet
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