CRA Numbers Show Luxury Tax Destroys Jobs and Hurts Local Businesses
July 30, 2024 PBO grossly overestimated vessel revenue projections The recent revenue results released by the Canada Revenue Agency (CRA) since the luxury tax’s September 2022 implementation confirm the marine industry’s dire predictions of a significant market disruption. Despite strong opposition by the recreational marine industry, the luxury tax implemented an additional 10% tax on boats more than $250,000. Across Canada, recreational…
