Steve48

Hello fellow Canadians, have not been on this forum in a long time...after living in Dallas for almost 13 years, we are now in Dublin, Ireland for the next two years and then plan to move back to Canada.

Started calling up Canadian dealerships to enquire about timeline to get a Cayman GTS 4.0, and wow those were depressing conversations. Sounds like I have missed the boat to get any allocation before end of production.

Hoping things change a bit over the next several months but I am not holding my breath.

Hope you are all doing well!

RDMcG

Sorry to hear that but it is a common problem these days. People are also paying insane prices for low mileage used also in my view.

If we go into a recession and interest rates rise further then we should see a drop in demand.

Don’t forget the 10% luxury tax if you are buying over $100k new on top of everything else.

rockrdude

then Porsche acts all surprised when people end up flipping their cars...

Steve48

Thanks, I didn't even factor in the 10% luxury tax. I need to do some more research, but is that on the all in price (including regular taxes) or just on a $100k+ MSRP?

rockrdude

if the car is 200k: GST and PST on 200k (approx 15% for Quebec) plus 10% on 100k (everything that is over 100k)

gcurnew

Luxury tax is 10% of the total cost of the car or 20% of the value over $100k. It's a wash for a $200k car but it's $20k in luxury tax either way.

theiceman

"or" ....

whichever is greater or less ?

gcurnew

You'd pay 20% on a $185k car ($17k in tax for the $85k over $100k), but 10% on a $215k car ($21,500 in tax for the entire value). On a $200k car 10% of the total value is $20k in tax and 20% of the $100k over $100k is $20k in tax.

https://www.canada.ca/en/revenue-age...s-tax-act.html

chachamaru

whichever is less.
So the luxury tax is on total sale price before tax (MSRP + fees that dealer charge) and cannot be deducted by trade in.
Then PST/GST/HST applys on the price + luxury tax - trade in (I'm in BC so I'm not sure about how trade in works in other provinces but I guess it's about the same).
in short, tax on tax

LastMezger

Cannot be deducted by trade. It's ****ing crazy. Applies to a leased vehicle's capital cost as well.

And HST in ON TOP of the luxury tax!?!

rockrdude

ok thats even worse 😂

9972envy

That’s what you get when the Liberals need the help of the NDP to stay in power. Ok, a bit rough as my second only post on this forum….entschuldigung.

timothymoffat

So for laughs, what would tax implication be with a $125K trade on a new vehicle with sticker of say $160K?

gcurnew

You have all manner of crazy taxes in B.C., but the luxury tax would be 20% on the $60k that is over the $100k threshold; so $12k luxury tax. The trade is irrelevant with respect to the luxury tax.

awdmig

Budget will balance itself