![]() ![]() Overview – Luxury Tax Rates and Points of Imposition It is anticipated that the legislative proposals in relation to the Luxury Tax regime would subsequently be included in a bill to be introduced in Parliament. Interested parties are invited to send written submissions on the proposed elements to the Department of Finance Canada, Tax Policy Branch, on or before September 30, 2021, at Notably, in this regard, the Government of Canada acknowledges the feedback that it has received to date regarding the Luxury Tax proposed in Budget 2021 and seeks additional feedback, including any potential impacts that the proposed Luxury Tax, as outlined below, might have in remote communities.įeedback received will be taken into consideration for the purposes of finalizing the design and drafting the legislative proposals in respect of the proposed Luxury Tax. Subject to final legislation being enacted, this paper lays out the proposed key design features of the Luxury Tax. This technical paper seeks to provide Canadians and stakeholders with additional information about the Luxury Tax proposed in Budget 2021, and to obtain feedback regarding its design. ![]() Budget 2021 also included supplementary information regarding the proposed tax. As part of Budget 2021, the Government of Canada announced its intention to introduce a new Tax on Select Luxury Goods (the Luxury Tax), effective as of January 1, 2022, aimed at helping to ensure that those Canadians who can afford to buy luxury goods are contributing a little more. ![]()
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