Candian vessel construction and equipment regulations updated

Photo by The Canadian Press/Justin Tang
Photo by The Canadian Press/Justin Tang

The Minister of Transport, Pablo Rodriguez, announced that new Vessel Construction and Equipment Regulations, which apply to the construction and equipment of new vessels 24 metres or more in length (excluding fishing vessels and pleasure craft), have come into force. The regulations update and consolidate requirements that previously existed in various regulations under the Canada Shipping Act, 2001, and the Canada Labour Code, into one set of regulations and add penalties for non-compliance. The regulations are wide-ranging, Continue reading “Candian vessel construction and equipment regulations updated”

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”

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