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KEY REVENUE MEASURES IN BUDGET 2021:
Large digital companies with gross revenue of 750 euros or more will face a three per cent tax on revenues starting Jan 1, 2022, which is expected to bring in $3.4 billion in revenue over five years.
Luxury cars and personal aircraft with sale prices of over $100,000, or boats for personal use with price tags of more than $250,000, will be subject to a 10 to 20 per cent tax starting Jan 1, 2022. This tax is expected to raise $604 million over five years, starting in 2021-22.
Non-residents that own Canadian properties that sit vacant will be hit with a 1 per cent tax on the value of the property beginning Jan. 1, 2022 — a measure expected to raise $700 million over four years. |
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