Used Boats In Canada Are Going To have A Better Resale Value

[Viper]

Qr Bbpost Maybe if everyone paid their fair share instead of finding ways to avoid tax......I do understand that there is a need to cover the bills and not just print money......

I completely agree. I think we're going to be paying in one way or another for all the government expenditures during COVID. Most of that is needed but not handled properly. The money has to come from somewhere but this way of getting it isn't just going to affect the guys that want in on that market, it affects everybody in the industry, that includes people that have nothing to do with the $250K purchase. There are better ways, it's called smart government spending of our money. I can say this quite comfortably because my wife works for a government ministry and some of the decisions they make and money they needlessly spend and write off just makes hers and my heads spin. I don't mind paying my fair share for the awesome services we get but don't just throw it away because it's someone else's money.

[pepmyster]

"Smart Government spending". I like that one. There is so much waste at that level it's insane. There has to be a better way, Cut the fat, think twice.....I'm sure they come in with good intensions then get caught up with the money machine. Just my 2 cents. I just want to boat.

[bud37]

Wait till the border opens up. There may just be be an even greater demand for quality used boats from the Canadian great lakes area. They have already gone way up.

[Midnightsun]

Qr Bbpost I honestly think this kind of tax is absurd. How can someone purchasing a $240,000 boat pay none of this tax but a person buying a $260,000 boat pays an extra $26,000, and how is that "fair" or "equitable"??

I do not understand yet how this is going to work exactly however I do believe it is only on the portion above $250,000

[Viper]

Qr Bbpost Wait till the border opens up. There may just be be an even greater demand for quality used boats from the Canadian great lakes area. They have already gone way up.

Hey, good point Bud, maybe we should throw in yet another tax if you're a non resident. I mean let's face it, considering the US exchange rates, it'll mean just a few extra pennies for our southern neighbours Can you imagine? Ya let's do everything we possibly can to deter boat sales because that will really help the economy. Oh brother.

[km1125]

Qr Bbpost

Qr Bbpost I honestly think this kind of tax is absurd. How can someone purchasing a $240,000 boat pay none of this tax but a person buying a $260,000 boat pays an extra $26,000, and how is that "fair" or "equitable"??

I do not understand yet how this is going to work exactly however I do believe it is only on the portion above $250,000

From what I read so far, it's either 10% of the whole purchase price, or 20% of the amount over the threshold, whichever is greater. So, for a $250K boat, it's $25K on top of whatever other taxes you pay, for a 500K boat, it's $50K on top of whatever other taxes you pay, and for a $1M boat, it'd be $150K.

[Midnightsun]

That sort of makes sense to me, thanks.

[bud37]