Quote:
Originally Posted by Osiris888
From the news....
The tax is calculated at the lesser of:
- 20 per cent of the value above threshold ($100,000 for cars and personal aircraft; $250,000 for boats) ; or
- 10 per cent of the full value of the luxury car, boat or personal aircraft.
So with discount and $5000 for xDrive could come in just under $100K. Hopefully it's not $5000 or more.
Have to take delivery before Jan 1, 2022 to avoid tax
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So would leasing be unchanged from a tax perspective? Seems like it only applies to cash or financing in this framework.