Where did you get the 10% from? Here's what the CRA site says.
Vessels subject to the luxury tax
The luxury tax applies to vessels that meet the definition of
subject vessel under the Act and are priced or valued above the $250,000 price threshold, unless an exemption applies.
Under subsection 2(1),
subject vessel means a vessel that meets both of the following conditions:
- it is designed or adapted for leisure, recreation or sport activities
- it has a date of manufacture after 2018