HOW TO AVOID THE SELECT LUXURY ITEMS TAX WHEN BUYING A NEW CAR?
HOW TO AVOID THE SELECT LUXURY ITEMS TAX WHEN BUYING A NEW CAR?
Posted on July 6, 2023
Avoid the Luxury Items Tax with a New Alfa Romeo
The purpose of this blog is to provide you with the information you need to learn more about the application of Canada’s Select Luxury Items Tax Act and how it pertains to the purchase of a new car. Vehicles that could be subject to Canada’s luxury items tax include sedans, coupes, hatchbacks, sport utility vehicles (SUVs), convertibles, and light-duty pickup trucks that are priced above $100,000. With the new luxury tax on the sale or importation of certain vehicles above $100,000, knowing what luxury vehicles you can buy that won’t get taxed under the new Select Luxury Items Tax Act will help you save money. Canada’s new Select Luxury Items Tax Act will come into effect on September 1, 2022. Keep reading to learn more about how you can avoid the new luxury items tax when buying a new car or SUV at Maranello Alfa Romeo.
Vehicles Subject to the Select Luxury Items Tax Act
The Select Luxury Items Tax Act will apply to all vehicles that meet the definition of “subject vehicle” as stated under the Act and those that are priced or valued above the $100,000 threshold. “Subject vehicle” is one that meets all the criteria below:
- It has a date of manufacture after 2018
- It is designed to travel with four or more wheels that touch the ground
- It has a gross vehicle weight rating of less than 3,856 kg
- It has a seating capacity of 10 or less
- It is designed or adapted primarily to carry passengers on streets and highways
How Can You Avoid the Select Luxury Items Tax Act?
The best way you can avoid the Select Luxury Items Tax when buying a new luxury car is to purchase a new Alfa Romeo. With the price of a new Alfa Romeo luxury vehicle falling under the $100,000 threshold, you will not have to pay the Select Luxury Items Tax, which in turn will help you save money. A new Alfa Romeo sedan or SUV offers all the luxury you’re looking for in a new vehicle and so much more. With a long list of innovative technologies and luxurious comfort features to choose from as well as powerful engine specifications, a new Alfa Romeo certainly fits the description of a luxury vehicle.
To learn more about how you can get behind the wheel of a new Alfa Romeo that falls under the $100,000 Select Luxury Items Tax Act threshold, please contact a product specialist at Maranello Alfa Romeo today.