New Aquitalia 63’ $1,603,522.40
9.5 % Duty 152,334.63
5% GST 87,792.85
7% PST 122,910.00
Minus Original Retail 1,603,522.40
Total Duty & Taxes $363,037.48
The BC Government (NDP minority) has a 15% Luxury Tax on values from $125,000.00 to $149,999.00 and 20% on $150,000.00 and up. Currently it applies to automobiles for personal use … not boats, yachts, planes.
The Federal Government (Liberal minority) has proposed a 10% Luxury Tax. With the NDP holding the balance of power this could happen and could be higher.
If you are thinking about buying a yacht it might be wise purchase prior to a Luxury Tax perhaps coming into the mix. If you really trust governments when it comes to taxes and your money I suppose there is no rush.