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Thread: Buy your supercars ASAP!

  1. #41
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    Buy two of each. There's no chance the budget doesn't pass.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Going for the super air nautique instead.

    So as long as the order is in before Jan 1, 2022. Or have to take delivery before that too?

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    The problem with buying physical items is that its physical. Buy an empty house in Vancouver? The government will eventually find a way to tax you extra on it.

    Got an extra supercar? Have no doubt, if they want to it shall be done. The beauty of owning things in the matrix is that it doesn't really exist - which makes it hyper valuable.

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    Wow, 100k threshold seems moronic, even middle class workin peeps are buying 6 figure trucks, or older dudes who save up for their dream car. That seems like an asshole move by the gubmint.

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    Sorry, I didn't read all the detail,

    So does it mean:

    For example, a $175,000 Porsche 911, first $100k, 5% tax, $5,000

    And the $75K above $100K, 20% tax, $15,000

    So, total tax is $20,000, vs $ $8,750 now?

    But since 10% for the total amount, $17,500 is lesser, so will pay $17,500 tax?

    And for a $120K, say GLC63, 5% off %100k = $5,000 and add 20% of $20K, $4K, total of $9K tax?

    Or those 20% and 10% tax are on top of our current 5% GST?

    Does it affect used car? (private sale and dealers)

    How about lease? How to calculate payment?

    Last edited by C4S; 05-06-2021 at 03:26 PM.
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    $300k Lambo is going to cost

    $30k in luxury tax
    $15,000 in gst

    $345,000 out the door instead of $315,000.

    I think, because otherwise it would be 20% of $200k ($100k being threshold) which is $40k and they are offering you the lesser option..
    Last edited by BavarianBeast; 05-06-2021 at 03:23 PM.

  7. #47
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    Quote Originally Posted by C4S View Post
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    Sorry, I didn't read all the detail,

    So does it mean:

    For example, a $175,000 Porsche 911, first $100k, 5% tax, $5,000

    And the $75K above $100K, 20% tax, $15,000

    So, total tax is $20,000, vs $ $8,750 now?

    But since 10% for the total amount, $17,500 is lesser, so will pay $17,500 tax?

    And for a $120K, say GLC63, 5% off %100k = $5,000 and add 20% of $20K, $4K, total of $9K tax?

    Or those 20% and 10% tax are on top of our current 5% GST?

    How about lease? How to calculate payment?

    rage explained it well in the other thread:

    Quote Originally Posted by rage2 View Post
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    Yea, 20% of the total above 100k, up to 200k before the 10% of total cost calculation kicks in.

    $125k car = $5k tax (20% of $25k)
    $150k car = $10k tax (20% of 50k)
    $200k car = $20k tax (10% of total price from here on)
    $250k car = $25k tax (10% of total price)

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    Quote Originally Posted by sabad66 View Post
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    rage explained it well in the other thread:

    And GST PST HST on top?
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    Quote Originally Posted by C4S View Post
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    And GST PST HST on top?
    Good question. According to this top link on google, it appears that yes, GST/HST calculated on top of the price inclusive of the luxury tax.
    https://www.advisor.ca/tax/tax-news/...n-budget-2021/

    not sure about PST but most likely yes... can't imagine any of the provincial governments will say no to more money.

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    When things cost this much, you just make it more economical to try and dodge the taxes.

    I’m sure someone sets up a leasing scheme out of Seattle or Buffalo to satisfy the needs of luxury car buyers in Canada.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
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    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by sabad66 View Post
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    Good question. According to this top link on google, it appears that yes, GST/HST calculated on top of the price inclusive of the luxury tax.
    https://www.advisor.ca/tax/tax-news/...n-budget-2021/

    not sure about PST but most likely yes... can't imagine any of the provincial governments will say no to more money.
    Ouch ...

    So, if in Ontario, 5% gst, + 8% PST (or call HST now?) and 10/20% tax ... (do they still have gas tax?) we are talking 23% or more tax for a $125K Cayenne??

    Since B.C. and Ontario etc already have Luxury tax on luxury vehicle, will they be affected? I know people are trying to lease expensive cars in B.C. so they high tax% only applied to the monthly payment ..

    Well, so when is this new Tax coming? July 1?
    Last edited by C4S; 05-06-2021 at 04:04 PM.
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    January 1, 2022

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    At the rate things are going, China will probably make an EV in the next decade costing $30K that outperforms most combustion muscle cars.

    Torque is trivial to the cheapest of electric engines.

    Its kind of a risky thing to put it all on cassette tapes when the CD is just around the corner. Just an idea.

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    Quote Originally Posted by ZenOps View Post
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    At the rate things are going, China will probably make an EV in the next decade costing $30K that outperforms most combustion muscle cars.

    Torque is trivial to the cheapest of electric engines.

    Its kind of a risky thing to put it all on cassette tapes when the CD is just around the corner. Just an idea.
    Heard the China made cars are so bad it breaks down even during test drives. Not to mention the overall QC is nil. Saw a post on a "luxury" china brand car with so many interior parts that squeak and are loose.

    I can only imagine the budget cars being a death trap.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    .
    Last edited by DustanS; 09-22-2022 at 11:09 AM.

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    Quote Originally Posted by DustanS View Post
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    I’m all for it, and you tightwads who car afford this shit regardless of the increase should quit bitching. If this makes you question whether you’ll buy something in these ranges it’s pretty likely you couldn’t afford it anyway.
    Rich people arent rich by splurging blindly.

    PS. your post makes me question if you graduated high school.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    .
    Last edited by DustanS; 05-07-2021 at 12:48 AM.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    Heard the China made cars are so bad it breaks down even during test drives. Not to mention the overall QC is nil. Saw a post on a "luxury" china brand car with so many interior parts that squeak and are loose.

    I can only imagine the budget cars being a death trap.
    It won't matter much in about nine years. If they indeed go ahead with a combustion engine sales ban in California and the UK, it will be illegal to buy one anyways. I can imagine that Beyonders will be looking to get in before that deadline though.

    You could always get a used supercar, but I mean if you are buying a supercar - you probably don't even know the meaning of the word used.

    It does depend a little bit on what you consider it to be: More of a museum piece like a Mona Lisa, where it only gains value as it gets older. Or will everything in it eventually rot out and it simply put on blocks as replacement parts for it run out.

    If North America does the China thing, and make the license plate cost $10,000 for a combustion engine car (or maybe even six digit) - that could also be a factor going forward. Reminder: I don't make the rules, just know some of them.
    Last edited by ZenOps; 05-07-2021 at 06:03 AM.

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    Last edited by DustanS; 09-22-2022 at 11:08 AM.

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    Quote Originally Posted by DustanS View Post
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    Know how I know you’re not rich? You think rich people are always frugal. This tax doesn’t even exceed the stereo upgrade in most luxury vehicles, you think it’s going to deter them from purchasing?

    You probably also think working your 9-5, saving and investing per societies standard recommendations will eventually make you rich. Good luck with that.

    P.S - I didn’t come anywhere close to graduating High school (got my grade 9, Ricky), but that hasn’t stopped me from building very successful businesses. Didn’t your parents teach you not to judge a book by its cover?
    what kind of businesses?

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