| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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02-19-2010, 03:30 PM
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#1
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Rs has made me the man i am today!
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FYI - Luxury Tax and HST
Just a heads up to anyone looking to purchase or lease a vehicle over $55k in the near future (yes people on Revscene can afford nice cars!):
With the introduction of HST on July 1, 2010, luxury tax will no longer exist.
Therefore, if you are buying a $60,000 vehicle, you will save 3% on your purchase if you can wait until after July 1st. That equates to $1800. Money you can spend on a vacation, accessories for your new vehicle or hookers & blow.
As a reminder, current luxury tax rates based on the MSRP of a vehicle are:
$55,000-$55,999 - 1%
$56,000-$56,999 - 2%
$57,000+ - 3%
Hope this saves someone a few bucks.
Kev
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02-19-2010, 03:34 PM
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#2
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Rs has made me the man i am today!
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Oh and in case anyone is wondering about private sales of used cars, the tax rate will not change. It will remain at 7% (PST only).
Kev
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02-19-2010, 03:53 PM
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#3
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Media Officer / MOD
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Location: vancouver
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that's some awesome news 
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02-19-2010, 06:08 PM
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#4
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RS Veteran
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Thanks I was really curious about private sales.
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02-19-2010, 06:23 PM
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#5
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I only answer to my username, my real name is Irrelevant!
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how is that awesome news??? the HST still = more$$$
i mean i guess its good news if your not going to be able to get a car until after the HST is introduced but :/
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02-19-2010, 06:36 PM
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#6
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I Will not Admit my Addiction to RS
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Location: Richmond
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^^^when you buy a car from a dealership you pay gst+pst that = HST........
so this is good news because it eliminates the luxury tax that people pay for now
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02-19-2010, 09:27 PM
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#7
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I wish I was where I was when I wished I was here
Join Date: Feb 2010
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Nice!
BTW to your FYI... where did you get this information?
Quote:
Originally Posted by StylinRed
how is that awesome news??? the HST still = more$$$
i mean i guess its good news if your not going to be able to get a car until after the HST is introduced but :/
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We're trying to look on the positive side of things...
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02-19-2010, 10:53 PM
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#8
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RS.net, helping ugly ppl have sex since 2001
Join Date: Sep 2008
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I never understood why the luxury tax existed in the first place
__________________
2014 Honda Civic Si
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02-19-2010, 10:55 PM
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#9
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I wish I was where I was when I wished I was here
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Quote:
Originally Posted by shenmecar
I never understood why the luxury tax existed in the first place
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tax grab from the rich?
which seemed to work, despite the tax there's still a lot of high end cars here in Vancouver...
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02-20-2010, 12:22 AM
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#10
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I bringith the lowerballerith
Join Date: Dec 2001
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Quote:
Originally Posted by hchang
tax grab from the rich?
which seemed to work, despite the tax there's still a lot of high end cars here in Vancouver...
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you mean richmond? right? 
__________________
asian parents, "i want five cows for your son"
brown parents, "FIVE COWS?! HAVE YOU GONE COO KOO? five cows... noo to much... two cows."
Go WINGS GO 1997,1998,2002 & 2008
#2 #5 #13 #14 #16 #19 #30 #40 #91
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02-20-2010, 12:43 AM
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#11
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OMGWTFBBQ is a common word I say everyday
Join Date: Dec 2008
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no vancouver actually has nicer cars, just that richmond is compact into one steaming pile of driving shithole
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02-20-2010, 10:55 AM
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#12
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I *heart* Revscene.net very Muchie
Join Date: May 2001
Location: Burnaby, BC
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Quote:
Originally Posted by Roach
(yes children with "N" licences on Revscene can afford nice cars using their parents' money!)
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^ Fixed that for you 
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Don't be the next RS.net statistic - If you drink, don't drive. You'll lose your licence, and the rest of us will laugh at you.
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02-20-2010, 12:36 PM
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#13
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OMGWTFBBQ is a common word I say everyday
Join Date: Nov 2005
Location: Vancouver
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Quote:
Originally Posted by Philly74
you mean richmond? right? |
Yea right. Vancouver has much nicer cars.
Posted via RS Mobile
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02-20-2010, 03:54 PM
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#14
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Rs has made me the man i am today!
Join Date: Feb 2002
Location: W.R.
Posts: 3,385
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Quote:
Originally Posted by hchang
Nice!
BTW to your FYI... where did you get this information?
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Sorry, I should have referenced that.
Quote:
�� Elimination of the vehicle luxury tax of up to 3% on new vehicles over $55,000
�� Private sale of used vehicles, aircraft and boats are not subject to HST but will remain subject to PST
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From Ernst & Young's tax bulletin:
Link
Kev
Last edited by Roach; 02-20-2010 at 04:01 PM.
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