on that! I used to think $100K was an impossible sum of money for a vehicle. I’m now thinking $99K might just be my upper end limit for one. Not sure I understand the tax though. Is it only on the amount >$100K? Or once you cross $100K it’s applied to the whole amount? Then is GST applied on top of that so there’s tax on tax? Like we don’t pay enough already…I suppose if they are smart, they will price it just under the $100k so there will not be luxury tax
That makes sense. Thanks for the explanation!The luxury tax on the sale, importation, registration or lease of a subject vehicle priced or valued above the price threshold, or on subject vehicles valued above the price threshold held by a person ceasing to be a registered vendor of subject vehicles is calculated as the lesser of:
So based on the above, my understanding is if the car is $120k, the tax would be $4k. And HST (rest of Canada) is on top of everything - yes, tax or tax.
- the taxable amount multiplied by 10%
- the amount that results from subtracting $100,000 from the taxable amount and multiplying the difference by 20%
What is the difference between the 105k (website) and the 108.5K your dealer tells you ?Build your Lexus GX 460 to get pricing, leasing or loan estimates and choose available packages. Make it your own & experience the luxury that Lexus builds.www.lexus.ca
GX 550 Price on Lexus Canadian site.
I was told by the dealer that the Overtrail+ would be $108,500 + tax. I put down the deposit in July. No information about when the vehicle would be available yet. I am located in Vancouver.
They did not give me the break down yet. Just said that they are charges from the head office and government. I have not signed up anything yet. Just told them to go ahead with the order.What is the difference between the 105k (website) and the 108.5K your dealer tells you ?