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Thanks for the update OP! I was worried w all the teasing you wouldn't come back so appreciate the update :-)
Curious about this BC extra GST? What triggers it?
Haha glad to deliver.
Regarding the extra GST, there is a clause on page 6 of this government bulletin explaining it (I'll post a screenie) https://www2.gov.bc.ca/assets/gov/ta...-companies.pdf
Never in my life have I heard of GST being charged on PST. Since total GST included 5% of the luxury tax, us 911 buyers in BC are getting double-double-dipped on taxes. Who would've thought.
Never in my life have I heard of GST being charged on PST. Since total GST included 5% of the luxury tax, us 911 buyers in BC are getting double-double-dipped on taxes. Who would've thought.
Yea.. wow.. that's awful. I was upset enough with my Ontario HST and Luxury Tax.
btw, we pay HST on the Luxury Tax so at least it seems Luxury Tax is excluded for you (in PST calculations***). That's one minor upside for you? ha
Last edited by kwazi7; 06-23-2024 at 09:26 PM.
Reason: clarified luxury tax comment
Yeah hahaha, taxes are double-dipped for everyone in Canada unfortunately.
Double? More like triple or quadruple...don't forget that the business that most people earn from has their earnings taxed, and then your individual income is taxed (federally and provincially at that), and then you're paying all the sales taxes and luxury taxes, and then you're paying money to register the vehicles, paying taxes on the gas that goes in the vehicles, paying tax on the insurance (which in and of itself is a scam, insurance should be not for profit but I digress), paying tax on the land that the vehicle is parked on (aka property tax), and so on...and this is especially true on Porsche's where let's face it, you're at top end marginal rates for those extra dollars earned to be able to afford a Porsche in the first place.
At the end of the day, you are paying probably 60-70% tax on the money used to buy a Porsche...ie to afford a $200k Porsche, you've probably had to earn $500k. It's criminal.
At the end of the day, you are paying probably 60-70% tax on the money used to buy a Porsche...ie to afford a $200k Porsche, you've probably had to earn $500k. It's criminal.
Yeah I was just talking about getting double-double-dipped on the purchase. Like the capital gains tax I paid was not taxed by any other sort of income tax. You are quite spot on with that total though.
My tax bill on my Revuelto is the price of this guys car including taxes and a used Macan lol. I guess it's the price to pay to live in "Beautiful BC".
To those paying it yes, to those benefiting from it no.
Criminal vs. fair...it's all relative.
Remind me again, who is benefiting from all this taxation exactly? They keep taking more and as far as I can tell, nobody (even those with low income) aren't any better off.
My tax bill on my Revuelto is the price of this guys car including taxes and a used Macan lol. I guess it's the price to pay to live in "Beautiful BC".
Insane, can you post what you're paying int axes? What's the MSRP on the Revuelto in Canada?
Forgot about my thread. I have to admit there was a lot more emotion than necessary before, but they did not screw up as hard as I originally thought. I didn't know that in British Columbia, if a car is taxed 15-20% PST, there is additional GST charged on top of the PST. So I did not get wrongfully charged 5% extra GST on $36k of PST. This is my first time buying such an expensive car, so now I know.
Anyway, finalized my deal and picked her up today; $1500 msrp as a good faith discount and $400 in gift shop credits. Came out to around $2.9k of cash savings in the end. Not as much as I hoped for but it was good enough for me to not forgo this car. The 4km drive to the ppf installer blew my expectations. Amazing car, can't wait for it to finish being wrapped.
Now to sit and watch to see 911 inventory going up in the next few years
Congrats! You did better than most, not just a cent taken off but in BC too! That's definitely a win in my book!
Now use those savings and get yourself OEM clear side markers after you pick her up from PPF 👍
Regarding the extra GST, there is a clause on page 6 of this government bulletin explaining it (I'll post a screenie) https://www2.gov.bc.ca/assets/gov/ta...-companies.pdf
Never in my life have I heard of GST being charged on PST. Since total GST included 5% of the luxury tax, us 911 buyers in BC are getting double-double-dipped on taxes. Who would've thought.
It's been discussed in another luxury tax thread, but I will do the math again.
In Vancouver, the new car which is over 200k has the final sale price equals to (Car MSRP + Dealer Fee) * 1.365. The 36.5% tax consist of 10% federal lux tax, 20% PST and 6.5% GST.
I have heard someone could register the car in another province like AB to prevent the BC lux tax but not sure how to do it.
06-23-2024, 08:37 PM
