Luxury Tax on Airplanes

[Scudrunner]

Anyone know when that Trudeau tax on us elites with 100k airplanes takes effect ??

And if so would that be applicable to a company airplane.

Debating whether I should buy personally or through my corporation.

[Scudrunner]

Got 3 friends mulling options some planes are just over the 100k mark.

So ya you know us rich bastards with 35 to buy a share of an airplanes are elites vs someone with a 250k ski boat isn’t.

Anyway I’ll stop with the politics and focus on the question.

[Liquid_Charlie]

I hear it's pretty easy to set up a company in Montana

[CpnCrunch]

Good luck finding a new plane for $100k. It's really only going to affect ultralights and I guess "elites" who can afford a 300k+ toy.

[Scudrunner]

Is it New only?

I won’t be buying new although maybe after Tuesday’s Lotto Max. However then with my new residence in the Caymans I don’t think that will be applicable.

[CpnCrunch]

Is it New only?

I won’t be buying new although maybe after Tuesday’s Lotto Max. However then with my new residence in the Caymans I don’t think that will be applicable.

Yes, according to the original statement and COPA's recent petition it is just new. There is some speculation that it might also include imported aircraft, but no actual evidence of that yet.

[Scudrunner]

Ah well I guess I'm good then.

Still weird that Boats are 250K but Airplanes are 100K I guess I'm too dumb for government.

[TundraTire]

Pretty simple. All of his buddies are into boats, not planes.

[Slick Goodlin]

Ah well I guess I'm good then.

Still weird that Boats are 250K but Airplanes are 100K I guess I'm too dumb for government.

I suspect you’ll have a lot more sailors than private pilots in parliament. Just a wild guess.