[supafamous]

Originally Posted by EvoFire

How would they track yachts? I'm going to assume the owner could always "purchase" it elsewhere and not in Canada. I'm gonna assume it's nothing like owning a car as you aren't mandated to have insurance and you can totally just have a yacht that's bought and if need be registered in Mexico but parked at the Horseshoe Bay marina all the time.

Same with airplanes.

Good point on that - evasion is super easy for the folks who buy planes and yachts.

https://www.investmentexecutive.com/...ircraft-boats/

The luxury tax and UHT “have proven to be inefficient, costly to administer and challenging for Canadian industries at a time of ongoing economic uncertainty,” said the budget, released Tuesday.

The luxury tax on aircraft and boats would end the day after budget day — Wednesday. “All instances of the tax would cease to be payable after budget day, including the tax on sales, the tax on importations, and the tax on improvements,” the budget said.

Dropping the luxury tax on planes and boats — the tax would still apply to sales of new cars — is projected to have a revenue impact of $135 million over five years, from 2025 to 2030, the document said.