Sidney is aware of the proposed luxury boat tax, which could end up hurting the local marine industry. (Wolf Depner/News Staff)

Sidney is aware of the proposed luxury boat tax, which could end up hurting the local marine industry. (Wolf Depner/News Staff)

Luxury boat tax on the radar of Saanich Peninsula communities

Local MP, industry leaders fear industry will sink local marine industry

Sidney’s chief administrative officer said the municipality is aware of the new luxury that will apply to retail sales of boats, cars and airplanes of a certain value across Canada.

“The (municipality) did not submit a comment on this national tax policy during the consultation period of this initiative,” said Randy Humble. He added that the boating industry is an important part of Sidney’s economy, which the municipality supports through land-use planning that protects marine industrial space, municipal tax policy that provides one of the lowest rates of business tax in the Capital Regional District and economic development efforts, such as the economic development strategy now underway.

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Britt Burnham, manager of community services in Central Saanich, said the district is also aware of the new tax but did not receive a request to comment on this national tax policy.

Erik Lambertson, North Saanich’s manager of communications and engagement, said the district has also had no communication with the federal government regarding this issue.

The federal government plans to apply the tax, starting Sept. 1, to new cars and aircraft with a retail sales price of over $100,000 and to boats over $250,000. The tax would apply to either 10 per cent of the total purchase price or 20 per cent of value of the threshold, whichever is lesser.

The tax has drawn criticism from the local marine industry and local MP Elizabeth May.


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wolfgang.depner@peninsulanewsreview.com

Saanich Peninsula

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