Owning a Beemer or a Jag will be getting a little cheaper. While July 1 means the sales tax i
s increasing on several items, the tax on luxury cars will decrease from 15 to 12 per cent on cars over $57,000. That means people wanting to splurge on fancy wheels have been waiting patiently for Canada Day. “Many of them are holding off with their purchases,” said Peter Trzewik, general manager of Victoria BMW and Three Point Motors, a Mercedes-Benz dealership. “They basically have the car picked out, but they will not pick the car up and pay for the car and do the paperwork until July. On $100,000 [cars], you’re saving $3,000. Why wouldn’t you?"
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Financial Tip of the day:
HONEYWAGON SPECIAL : Get your Septic tank pumped out before Canada Day and avoid the extra 7% HST.
2 comments:
Typical.
The rich get richer and the poor get shafted. Wonder if a Hyundai can be considered a luxury car. Cuz if oil prices keep going up it will be a luxury to drive.
Perhaps they should rename the septic truck "Super Shit Diposal". They might increase their business.
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