Luxury Tax National Survey results
June 16, 2023
As you probably know, Boating BC along with Boating Ontario and with input gathered from other MTAs, has been conducting an ongoing survey regarding the loss of sales and lost employment due to the federal government’s luxury tax. The survey has come to a conclusion as it has been up for a little over a year. We will be conducting a new survey for the coming year to track lost business and revenues. The survey data in the chart above, shows the devastating effects of the tax on our industry. This survey does not capture all the lost sales and lost opportunities from those dealers and brokers who chose not to order boats in anticipation of not being able to sell them in a timely manner.
The infographic clearly demonstrates the loss of sales and loss of government tax revenue as a result of this regressive and poorly implemented tax. Please share this graphic with your local MP with a copy to the Minister of Finance.
Here is a link to all the MPs in BC as well as the Finance Minister’s office.
Boating BC and our counterparts are continuing to work to have the tax removed, but we need all our members to be pushing hard as well.
