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”
River Canal Rescue has published its 2021 statistics and reports it responded to 171 major incidents during the year with emergency situations either involving submerged, partially sunken or grounded craft, plus salvage work.
The Cruising Association has announced that HM Revenue and Customs (HMRC) has followed through its proposed positive change to the application of Returned Goods Relief (RGR) for recreational craft resulting in many boat owners no longer becoming liable to pay VAT on the return of their boats to the UK.
It has been a busy news month, both in terms of Institute news but also as far as marine-related news is concerned. This bulletin has some information of importance to the marine surveying profession.
The Australian Maritime Safety Authority (AMSA) has released details of an investigation into an incident where the owner and their son were seriously injured in an explosion in the galley of their houseboat due to the stove ignitor igniting a gas leak.
The Maritime and Coastguard Agency (MCA) has published guidance on safety bulletin 24 – Non-SOLAS lifejacket servicing requirements. The MCA has published this guidance based on a recent survey of a fishing vessel which highlighted that the vessel’s complement of inflatable, non-SOLAS lifejackets had not been serviced in accordance with the requirements of MGN 553: Inflatable Non-SOLAS Liferafts and Life-saving Appliances. The lifejackets had undergone servicing with a service provider that did not hold manufacturer’s approval for that particular make and model. 