Luxury Tax

The top 5% of products in the following categories, based on retail price, will have a 10% luxury tax added to the retail price.

Cars over $65,000 are already taxed at 33%, and you probably never hear anyone complain about it

• Cars (on top of the 33%)
• Jewellery
• Clothing
• Handbags
• Watches
• Alcoholic Beverages
• Shoes
• Non-commercial watercraft (yachts)

Basically any products that do not have any practical, functional benefits that the price warrants. Basically any products that cost more because of perceived luxury or fashion. So trucks will be exempt, for example.

The price where the tax kicks in will be determined each year, and will roughly cover the top 5%. No need for it to be precise.