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Canada finally gets federal rebate?

Discussion in 'Gen 2 Prius Main Forum' started by David Beale, Mar 20, 2007.

  1. David Beale

    David Beale Senior Member

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    We don't yet have the full details, but in the new Canadian federal budget we now have "up to $2000" rebate on fuel efficient vehicles. The way it's been reported is the more fuel efficient, the more of it you get, so I would presume Prius and the HCH would get the full $2000. The budget also includes "up to $4000" tax on gas guzzlers. :) The anti-Prius (see below) just got more valuable. ;) In fact as I type this, the radio is on and a CBC news reporter mentioned it and the $4000! Now that's cool, though compared to "real gas guzzlers" (Suburbans, Expeditions, full size pickups), it doesn't use -that- much fuel.

    Now if it's just a reduction in income tax off "taxable income", it would amount to a savings of $500 or so. Not a big deal, especially considering Prius is way overpriced in Canada.

    I'm hoping to see more info. posted under this thread as more info comes to light?
     
    #1 David Beale, Mar 20, 2007
  2. Presto

    Presto Has his homepage set to PC

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    The $2000 rebate comes off at the time of the sale of the car. Us Canadians never had to worry about the Prius in our tax returns. They've been offering this incentive here for a few years now.
     
    #2 Presto, Mar 20, 2007
  3. Canuck

    Canuck Member

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    Quote/
    Now if it's just a reduction in income tax off "taxable income", it would amount to a savings of $500 or so. Not a big deal, especially considering Prius is way overpriced in Canada.

    I'm hoping to see more info. posted under this thread as more info comes to light?
    [/quote]
    Hi David,
    Interesting to see the Federal Government is finally catching up to the Provincial Government of British Columbia. When we bought our 2005 Prius we received a cheque refund of $837.91 (CAD) on 7 Oct 05. The only glitch was that this was a partial refund from the Social Services Tax of $2670.38 which we were charged initially on purchase of the vehicle which as you stated was over priced to begin with. The refund referred to buying an Alternative fuel vehicle ....the alternative being the electric side of things where I guess electricity is generated by breaking etc and not as a consequence of running the ICE. Oh well, it was better than nothing! <_<
    Gary
    Presto, are you of the opinion that the Prius would be entitled to the full $2000 or is that for the ultimate electric vehicle and/or Hydrogen models
     
    #3 Canuck, Mar 20, 2007
  4. seftonm

    seftonm Member

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    The Prius should be eligible for the full $2000 rebate. I believe the rebate goes something like this for cars: $1000 for a vehicle with average fuel consumption of 6.5L/100km. $500 extra for each additional improvement of 0.5L/100km, up to a maximum rebate of $2000. There is another rebate schedule for minivans and SUV's with a similar layout but fuel consumption is allowed to be higher. Manitoba also has a $2000 tax rebate for hybrid vehicles. We could start seeing a lot more of them here in the future.
     
    #4 seftonm, Mar 20, 2007
  5. Presto

    Presto Has his homepage set to PC

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    Ah.. a little different than BC then. Here, it's just 100% of the provincial sales tax up to $2000. Prius sightings are still uncommon in Vancouver and the surrounding areas. I'm starting to see more Camry Hybrids, though.
     
    #5 Presto, Mar 20, 2007
  6. David Beale

    David Beale Senior Member

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    Most of you guys are so positive. Sitting here wrestling with my tax forms (Grr - you want my money for WHAT?), I'm pretty sure the Feds will have the "rebate" listed in "deductions from taxable income". Something like the Americans do. Most of them only saw around $500 rebate. If we end up with that we don't see the full $2000. Only a small percentage of it. Min. about 25%, max. about 35%.

    It would be cool if we could deduct it from the GST though. There I go being positive. ;)
     
    #6 David Beale, Mar 21, 2007
  7. Tideland Prius

    Tideland Prius Moderator of the North
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    http://priuschat.com/index.php?showtopic=30862&hl=

    In BC, that means we get a $4,000 rebate on a Prius and $3,500 on the Camry Hybrid. We only got $750 or thereabouts for our Prius back then.

    Presto, come over to this side (i.e. further west). Tons of Prius here.
     
    #7 Tideland Prius, Mar 21, 2007
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