Recreational Marine Industry applauds removal of Canada's luxury tax on boats in budget 2025
by National Marine Manufacturers Association 5 Nov 16:03 PST
A Canadian flag flying on the top of the Peace Tower, part of the Canadian Parliament Building in Ottawa © George Clerk
Yesterday, it was announced that Canada's Budget 2025 includes a commitment to remove the luxury tax on boats, a failed tax policy that unfairly punished Canadian manufacturers and workers. When the luxury tax was first implemented in September 2022, Canada's marine industry leaders were quick to point out the impending losses of middle-class jobs, government tax revenues and sales declines.
The removal of this failed tax was the direct result of sustained advocacy from NMMA Canada, the Canadian Marine Retailers Association (CMRA), and grassroots supporters across the country.
This decisive action protects boat manufacturing jobs across Canada, strengthens domestic production, and allows Canadian dealers to rebuild their businesses and restore sales to pre-tax levels. It also provides relief for the thousands of middle-class Canadians whose livelihoods depend on a strong recreational boating industry.
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