Canadian Government releases draft legislative proposals to implement luxury tax on new boats

In Budget 2021, the government proposed the introduction of a tax on the sale of new luxury cars and aircraft with a retail sale price over $100,000, and new boats over $250,000. The tax would be calculated at the lesser of 20 per cent of the value above these price thresholds or 10 per cent of the full value of the luxury vehicle, aircraft or vessel.

To implement this commitment, the government released for public comment draft legislative proposals. These proposals reflect, and respond to, input received during consultations with stakeholders. You have until 11 April to have your say. Continue reading “Canadian Government releases draft legislative proposals to implement luxury tax on new boats”

Report from Marine Renewables Canada sets out the progress on marine energy during 2021

Canada’s national association for offshore renewable energies Marine Renewables Canada has released a report summarizing its activities in tidal, wave, and offshore wind sector in 2021.

Marine renewable energy projects and R&D are progressing in Canada, with several tidal energy developers approaching deployments as a next step in 2022, new partnerships to accelerate integration in remote communities, and a growing focus on how to support offshore wind development. Continue reading “Report from Marine Renewables Canada sets out the progress on marine energy during 2021”

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