First Post In A Long Time...New Car Buying Woes

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03-08-2023 | 05:02 AM

#31

westcoastj

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Joined: Oct 2020

Posts: 677

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Quote:

Originally Posted by chachamaru

total sale price 160k
so luxury tax is 60k*20%=12k
In BC, the PST rate for over 150k is 20%, so PST is (160k-125k)*20%=7k
GST is calculated on luxury tax and PST.
(160k-125k+12k+7k)*5%=2.7k

I think you forgot the 7% PST on the initial 125k as well.

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03-08-2023 | 10:23 AM

#32

tbuff

Instructor

Joined: Jan 2012

Posts: 114

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Cars seems to be sitting. Granted it is winter but still.

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timothymoffat (03-08-2023)

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