Luxussteuer gesenkt: „Wir unterschätzen wirklich den Reichtum, der in der kanadischen Wirtschaft vorhanden ist“
https://www.ctvnews.ca/business/article/canadas-luxury-tax-on-planes-cars-yielded-over-900m-now-its-been-scaled-back/
Luxussteuer gesenkt: „Wir unterschätzen wirklich den Reichtum, der in der kanadischen Wirtschaft vorhanden ist“
https://www.ctvnews.ca/business/article/canadas-luxury-tax-on-planes-cars-yielded-over-900m-now-its-been-scaled-back/
12 Kommentare
It feels a bit contradictory to say on one hand that the luxury tax is collecting more money than anyone expected and on the other say it’s necessary to cut the luxury tax because it’s going to crater demand.
Like this paragraph is kinda funny on how directly it contradicts itself:
>Backers of the tax say the windfall amounts to an unexpected success that vindicates the full levy and shows that wealthy individuals are more willing to spend on big-ticket items than authorities had presumed, despite the higher price tag. Critics argue that parts of the tax hurt key industries by discouraging purchases and fail to hold up under cost-benefit analysis, calling for a complete rollback.
I get that these are comparing two different arguments, but it seems like the evidence is in favour of the backers of the tax right now.
>A luxury tax on cars, planes and boats yielded more than $900 million before it was scaled back amid concerns about the negative effect on manufacturers.
>In the two fiscal years between 2023 and 2025, the tax on pricey conveyances was pouring nearly $390 million a year into federal coffers — well over double the forecast from the Parliamentary Budget Office — according to figures obtained through an access-to-information request by The Canadian Press.
Absolutely insane for Carney to roll back this highly effective, entirely justified, and relatively modest tax on the wealthiest Canadians. Choosing to remove nearly $400 million from the budget for no reason other than to let the richest Canadians buy more toys they don’t need is monumentally foolish. At a time when governments are scrambling for revenue, handing out tax breaks to people who can most easily afford to pay makes no sense whatsoever. Bring it back and expand it.
>“Why should rich people pay different taxes based on whether they want to spend their money on cars or vacations?” asked Matthew Lau, an adjunct scholar at the Fraser Institute.
>“If people are buying fewer luxury cars, because now it’s taxed, there’ll be fewer jobs making these cars and fewer jobs fixing these cars,” Lau said.
Lol, shut up Matthew Lau, adjunct „scholar“ at the Fraser Institute. Mind boggling that anyone with a functioning brain still falls for this bs. Dude clearly doesn’t get bullied enough, someone needs to give him a wedgie.
They should roll it back on cars too, or at least index it to inflation.
It’s ridiculous to selectively tax some goods at a higher rate than others. Some middle class person gets lux taxed on their dream car while a billionaire buys 100 high end watches at 13%.
If they were collecting more tax than they forecasted it sounds like the tax actually increased consumption of luxury goods which would create more jobs, by their own argument. I guess we should increase the luxury tax to keep helping the economy.
The tax level on cars is too low. 100k isn’t even that much for a new car these days (especially evs or hybrids which we want to encourage) and given what weve seen from BC where the level never increases, soon enough with inflation every car will get hit with this.
For context in BC the luxury goods tax for cars was set at 55k decades ago and never adjusted for inflation. Now people are getting hit with it on basically any new car purchase since the avg new car purchase in Canada is 64k. 100k may seem like a lot now, but in a decade it may be basically any new car just like the issue in BC. The tax either needs to be indexed to inflation or the number should be raised significantly.
>With no guarantee the cost will be passed on to customers, the policy fails to ensure wealthy buyers bear the burden, critics said.
Who else is going to bear the burden? The tooth fairy? All of every business‘ costs are passed on to their customers.
Carney and his pals must be in the market for a new private jet. Carney has been the worst disappointment in Canadian politics in my life time.
At this point I think that our PM, Carney, is not actually a Liberal but an old-school PC.
If the wealth tax is collecting money, great. Now reduce taxes for the poor and middle-class. Don’t scale this back.
Interesting. I’d be supportive of a luxury property tax being introduced to expensive homes. A possible definition of „expensive home“ could be 1.5 times the median.
This is fairly classic Mark Carney. Neoliberal oligarch trickle down garbage.
Just because he used to be a banker doesn’t mean he’s going to make political decisions that are in your best interest. It means he’s good at finance and *also* all his friends are rich people. That isn’t a recipe for a politician that will help the common person who works for a living.
What the f — where’s the logic here?
The government receives more revenue than expected at the cost to no one, so why on earth would they scale it back?
In no other period in the last 70 years has there been a more desirable moment to extract revenue from the top earners.
This isn’t even a politically savvy move, it’s grossly unpopular with the vast majority of Canadians.
I’m indifferent to luxury taxes. They’re nice to have, but while we argue over it the wealthy consume using a insignificant portion of their wealth.
Id rather focus on wealth taxes instead. 2% of annual evaluation. If they cant afford that, they should sell.