Canada introduces new tax for luxury cars and aircraft

"Taxes help pay for the government programs and services that Canadians depend on. They provide a social safety net on which all Canadians can rely in times of crisis," a statement on the government's website reads.

A new luxury tax for the purchase of high-end cars, aircraft and boats goes into effect September 1 in Canada. Above, boats docked in Vancouver.Anthony Norejko, president and CEO of the Canadian Business Aviation Association, criticized the legislation, saying the new"luxury tax" is"of great concern for Canada's beleaguered aviation sector and its employees."

Unfortunately it's a watered-down version of the luxury tax that the governing Liberals had proposed, which was already sub-par compared to what a real luxury tax could and should do.

Can Canadians move their boats to the US, like John Kerry moved his to avoid taxes?

This trend now has to accelerate like a V12

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