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August 10, 2021 update

Information is accurate as at 3:00 p.m. EDT. Information may be affected by subsequent announcements.

Links to government announcements follow at the end of the update.

Tax updates:

  • Canada - Consultations on proposed Luxury tax: The Department of Finance provided further details of the Luxury tax proposed in the 2021 federal budget, and has launched consultations with stakeholders on its design. Effective January 1, 2022, a tax on sales (for personal use) of: (i) luxury cars and personal aircraft with a retail sales price over $100,000, and (ii) boats with a retail sales price over $250,000 is proposed to apply, calculated at the lesser of: (a) 20% of the value above the sales price threshold, or (b) 10% of the full value of the luxury car, boat or personal aircraft. Written submissions from interested parties are invited by September 30, 2021.

Other updates:

  • Canada - Travel restrictions extended: Direct passenger flights from India to Canada will remain prohibited until September 21, 2021. Travellers flying to Canada from India by an indirect route are now required to obtain a pre‑departure COVID‑19 test from a country other than India.

  • Nova Scotia - State of emergency extended: The state of emergency is extended until August 22, 2021.

  • Nunavut - Public health emergency extended: The territorial public health emergency is extended until August 19, 2021.

Links to government announcements:

Contact us

Dean Landry

National Tax Leader, Toronto, PwC Canada

+1 416 815 5090

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Shawn Reain

National Tax Markets Lead, Compliance.Transformed leader, Partner, Calgary, PwC Canada

+1 403 509 6373

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Kent Smith

Partner, Ottawa, PwC Canada

+1 613 755 8742

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Éric Labelle, LL.L.

Greater Montreal Tax Leader, Montreal, PwC Canada

+1 514 205 5063

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Julien Lassonde

Partner, PwC Associates, National Incentives Leader, Montreal, PwC Canada

+1 418 997 4019

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Liam Fitzgerald

Competency, Innovation & Legal Tax Leader, Toronto, PwC Canada

+1 416 869 2601

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