Federal Budget 2026 - Luxury Tax on Boats and Aircraft to be cancelled

[InterMechanico]

 

[Sea Chaser]

If only one could afford a 6 figure boat

 

[SpringVelocity]

Now if you say these fishing restrictions are hurting your boat building business they can respond they have given your customers a break on luxury tax.

Be careful with the trojan horses .

 

[scott craven]

Carney must be shopping for a new yacht....

 

[Tomfoolery]

The tax was ridiculous from the start. 100K for an airplane would barely get you a decent 40 year old Cessna 152 and 250K for anything nice over a standard fishing boat runabout is a ceiling that is hit very much before things become luxury.

 

[kaelc]

Great news the only tricledown economics I believe in is 2 footitus. In all seriousness great news for boat builders in bc no ns and Ontario there must be other provinces that build but for bc this is a big deal

 

[SpringFever2359]

View attachment 122447

Been holding off ordering my 1/4 million boat till now , thank God for Carny and the liebral party of Canada

 

[SpringFever2359]

Carney must be shopping for a new yacht....

I'd say new plane

 

[SpringFever2359]

Great news the only tricledown economics I believe in is 2 footitus. In all seriousness great news for boat builders in bc no ns and Ontario there must be other provinces that build but for bc this is a big deal

My 2 cents, Anyone buying a new 250 thousand and up boat in these uncertain times in BC for fishing is an idiot.

 

[Marley]

My 2 cents, Anyone buying a new 250 thousand and up boat in these uncertain times in BC for fishing is an idiot.

Or rich AF.

 

[wildmanyeah]

Of all the things I want carney to do this was not very high on my list.

 

[SpringFever2359]

Or rich AF.

Or both

 

[ab1752]

Sweet I can snag that G5 ive been eyeballing. The high end car dealers / buyers aren't happy and clearly had shittier lobbyists.

 

[seabeyond]

Sweet I can snag that G5 ive been eyeballing. The high end car dealers / buyers aren't happy and clearly had shittier lobbyists.

I suspect the government wasn't making any money on the lux tax on boats due to low volume/ high admin cost. I suspect the lux car market sells 50X the volume...

 

[ab1752]

I suspect the government wasn't making any money on the lux tax on boats due to low volume/ high admin cost. I suspect the lux car market sells 50X the volume...

Totally agree...its all about optics.

 

[kaelc]

I suspect the government wasn't making any money on the lux tax on boats due to low volume/ high admin cost. I suspect the lux car market sells 50X the volume...

Finance minister confirmed it cost more than it took in, but wasn't asked and didn't admit it cost more in jobs and overall tax revenue. Lots of multimillionaire out there. I know one company making moves that this will help in the long run. Instead of planning for slow growth they are hoping to build capacity and bring on 50 plus employees next year. Not because of this decision to be clear but they are more confident with the tax gone.