Liberals' new luxury tax cost government $19M to collect less than $150M

Tax on fancy boats, cars and planes also brought in $137 million in its first year

OTTAWA — Canada’s new luxury tax on luxury cars, boats and private planes brought in $137 million in its first year, but it cost $19 million to bring in those taxes.

Conservative MP Scot Davidson tabled an order paper question demanding information about the new tax in the spring and received answers from the government when Parliament returned this month.

According to that those answers, the tax was levied against 72,000 cars sold in Canada, 398 boats and 71 planes. The tax applies to cars and planes with a purchase price of more than $100,000 and leisure boats with a price tag over $250,000.