Luxury Car Tax Electric Vehicles. In order to accelerate the transition to electric vehicles, the bill offers a tax credit of up to $7,500 for buyers of new electric vehicles and of up to $4,000 for used evs. On top of the luxury car tax discount, the federal government last year introduced a fringe benefits tax exemption for electric vehicle purchases.
The government of canada announced its intention to introduce a new tax on select luxury goods (the luxury tax), as part of budget 2021, effective as of january 1, 2022. The following electric car models now fall under the threshold.
Cars With A Luxury Car Tax (Lct) Value Over The Lct Threshold Attract An Lct Rate Of 33%.
Hyundai ioniq 6 epiq awd.
Hyundai Ioniq 5 Epiq Awd.
For the lct rate before 3 october 2008, refer to.
Because Electric Vehicles Are Cheaper To Run.
Images References :
Because Electric Vehicles Are Cheaper To Run.
Hyundai ioniq 6 epiq awd.
Detailed Information About Luxury Car Tax.
This threshold determines the maximum value at which a car is exempt from the luxury car.
In Order To Accelerate The Transition To Electric Vehicles, The Bill Offers A Tax Credit Of Up To $7,500 For Buyers Of New Electric Vehicles And Of Up To $4,000 For Used Evs.
