NMMA Explains Impact of Canadian ‘Luxury Tax’ in Latest Marine Minute
The Canadian government’s proposed ‘luxury tax’ on new recreational boats valued above $250,000 CAD is set to go into effect September 1, 2022. Despite two years of NMMA and the Canadian marine industry advocating against this tax, the Canadian government will move ahead with this measure.
NMMA’s latest Marine Minute highlights the details of the ‘luxury tax,’ what this means for the marine industry, and what the industry can do to oppose this tax. The Marine Minute may be viewed here.
The NMMA Canada will continue discussing the impacts of the luxury tax on Canada’s $10 billion recreational boating industry with members of Parliament, officials, and staff in the weeks to come and encourages members to take action against the tax.
For more information or questions, please contact Jim Wielgosz, Director of Provincial and Federal Government Relations, at [email protected].