The number of recreational boat registrations in Canada has dropped sharply since the introduction of the luxury tax in 2022, newly released data shows. Of the total pleasure crafts registered in 2022, 92 were new vessels and 782 were used. In comparison, 36 new and 488 used vessels have been registered so far this year.
“And thank you for contributing a little bit of that good fortune to help heal the wounds of COVID and invest in our future collective prosperity,” she added. “The proposed tax will result in a minimum $90-million decrease in revenues for boat dealers, and potential job losses of at least 900 full-time equivalent employees. In short, the tax will hurt the very middle-class families that the government is trying to help,” she added.
The Epoch Times reached out to the finance department for comment on the CRA’s data but did not receive a response by publication time..
