Luxury Vehicle. A luxury vehicle is intended to provide passengers (and often the driver) with increased comfort, a higher level of equipment and increased perception of quality than regular cars (such as economy cars, which are intended as basic low-cost transportation devices) for an increased price.
PST On Vehicles. However, if you delay registering the vehicle, you may be required to pay PST directly to the B.C. Ministry of Finance. The general PST rate on private vehicle sales and gifts of vehicles is 12%. However, the PST rate varies based on whether the vehicle is a passenger vehicle and the value of the vehicle.
Luxury Vehicle s List. Luxury vehicles list . Please note this is a guideline only and is updated periodically. Please refer to the table below to find out whether a vehicle: 1. is subject to mandatory High-value vehicle Basic Autoplan insurance premiums and /or 2. requires an application to obtain ICBC own damage coverage through the Digging Deeper Into BC's Luxury Tax. In 2010 with the introduction of the HST, the Luxury Tax was no longer, as the PST had been eliminated. On to April 2013, the HST is out and the PST, along with its luxury counterpart is back! Taken from Bulletin PST 308, here is the basis for determining what rate of PST should be applied to a passenger vehicle sale:
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