[tuffcalc]

If you're in Canada and had an M60 reservation, you've just moved up the line by one.

With the luxury tax coming into effect Sept 1st, I cancelled my order. I like the car but not enough to tack on another $15k to the price. Too bad I couldn't get it delivered before the deadline.

[Bird~Dawg]

Originally Posted by tuffcalc

If you're in Canada and had an M60 reservation, you've just moved up the line by one.

With the luxury tax coming into effect Sept 1st, I cancelled my order. I like the car but not enough to tack on another $15k to the price. Too bad I couldn't get it delivered before the deadline.

How did you arrive at $15k for the luxury tax? Isn't it the lesser of 10% of the total or 20% of the amount over $100k? (Pre-tax Price - $100k) x 20%…

[tuffcalc]

Originally Posted by Bird~Dawg

How did you arrive at $15k for the luxury tax? Isn't it the lesser of 10% of the total or 20% of the amount over $100k? (Pre-tax Price - $100k) x 20%…

As my accountant explained it, it's a tax on tax. So you need to add up the MSRP, PDI, HST, etc. payable. Take that number, and then add the lux tax rate. You essentially get nailed on HST twice... as I understand it.

It's a bit less than $15k on the M60 I ordered. Not a massive amount, but I already feel taxed to death so I'm opting out. I wouldn't want to pay this lux tax to only see it get repealed at the next election cycle if the liberals get voted out.

[CaboM4]

Originally Posted by tuffcalc

As my accountant explained it, it's a tax on tax. So you need to add up the MSRP, PDI, HST, etc. payable. Take that number, and then add the lux tax rate. You essentially get nailed on HST twice... as I understand it.

It's a bit less than $15k on the M60 I ordered. Not a massive amount, but I already feel taxed to death so I'm opting out. I wouldn't want to pay this lux tax to only see it get repealed at the next election cycle if the liberals get voted out.

Can you not find an available vehicle to accept delivery on prior to the onset of the tax effective date? Seems to be a fair amount of unspoken for build available in the US .. assuming the same north of the border.

[tuffcalc]

Originally Posted by CaboM4

Can you not find an available vehicle to accept delivery on prior to the onset of the tax effective date? Seems to be a fair amount of unspoken for build available in the US .. assuming the same north of the border.

Checked all the dealers around my city. No M60 allocations. Don’t think the 2023’s have been released yet. Even then unsure if it can be built and delivered before sept 1.

[CaboM4]

Originally Posted by tuffcalc

Checked all the dealers around my city. No M60 allocations. Don’t think the 2023’s have been released yet. Even then unsure if it can be built and delivered before sept 1.

I snagged an M60 built June 14th from a dealer in Anchorage, AK. I live in NJ, and since the vehicle wasn't yet sent to the port of departure, they were able to re-route it to a local dealer in my state for a "courtesy delivery".

I would expand your search more broadly and would recommend working with a broker like Day Laborer

[Bird~Dawg]

Originally Posted by tuffcalc

As my accountant explained it, it's a tax on tax. So you need to add up the MSRP, PDI, HST, etc. payable. Take that number, and then add the lux tax rate. You essentially get nailed on HST twice... as I understand it.

It's a bit less than $15k on the M60 I ordered. Not a massive amount, but I already feel taxed to death so I'm opting out. I wouldn't want to pay this lux tax to only see it get repealed at the next election cycle if the liberals get voted out.

I think your accountant may have gotten it wrong. The tax appears to apply to the taxable amount before GST/HST/PST. It includes dealer add-ons, basically the amount subject to HST. It's the lesser of 10% of the total or 20% of the amount over $100k. If the purchase price of the M60 is $125k, the lesser amount would be 20% of $25k or $5k. It still stings, but it's not $15k.

It seems your accountant took the full invoice amount with HST and applied the 10% rate option on the full amount. Didn't even apply the "lesser of" provision. Maybe you need a new accountant.

[tuffcalc]

Originally Posted by Bird~Dawg

I think your accountant may have gotten it wrong. The tax appears to apply to the taxable amount before GST/HST/PST. It includes dealer add-ons, basically the amount subject to HST. It's the lesser of 10% of the total or 20% of the amount over $100k. If the purchase price of the M60 is $125k, the lesser amount would be 20% of $25k or $5k. It still stings, but it's not $15k.

It seems your accountant took the full invoice amount with HST and applied the 10% rate option on the full amount. Didn't even apply the "lesser of" provision. Maybe you need a new accountant.

Just got off the phone with her to confirm.

First, my M60 was ~145.5k. Pre luxury tax (+ 13% HST) = $164,415. $125k M60 is a base stripper... Unfortuantley you can't even order a base iX50 or M60 before November 2022 as per BMW Canada.

Using your calcuation it would be

20% of the overage (45,500) = $9100 ... you then add $9100 to the price of the car (so 145,500 + 9100 = $154,600) * HST (13%) = $174,698. I based this calcuation on this document http://mnp.ca/en/insights/directory/...e%20threshold.

Using that calculation, since the lux tax also incurs HST, it would be an additional $10,283 in taxes.

My accountant still seems to think it's still taxed on the HST amount (pre lux tax) which would make it $14k. I rounded up to $15k in anger.

I don't know. The M60 is cool but another 10 or 15k on top of an already splurge just doesn't sit with me well. Based on previous M cars (with this not even being a full M car) - it's going to be a depreciation bomb.

This was a third car for me. The tax is enough for me to say forget it. I got my head around this thing depreciating like a rock already - but adding 10 to 15k on top of it just because ... I think that's a step too far.

I'm sure there will be others like me that say the same. I pay enough taxes already at a 56% marginal rate, thank-you very much.

O'Canada.

[CaboM4]

Originally Posted by tuffcalc

I pay enough taxes already at a 56% marginal rate, thank-you very much.

Thats enough to get me to consider moving not very far over to Buffalo, NY area! NY isn't as bad of a rape as that!

[TXSchnee]

Originally Posted by CaboM4

Thats enough to get me to consider moving not very far over to Buffalo, NY area! NY isn't as bad of a rape as that!

Add in your property taxes and health insurance premiums, I bet you are close. I am in the 34% bracket, TX property taxes are insane so I pay about $17,000/year and then about $350/month health insurance premiums. Darn close to Canadian or EU taxes and less or crappier services. Sort of a wash.

[TXSchnee]

My allocation was picked up yesterday, made some changes to the order and production number has been issued. It has the price increase on it, expected to start production the week after next, so before the end of July.

[m3heaven]

Are USA dealers getting M60 allocations now? I told my dealer about 2 months ago that I wanted one and I submitted my build but haven't received any updates of a production number yet.

[ppagiga]

Originally Posted by CaboM4

+1 for Day Laborer ... He is an excellent resource and helped me with my iX M60 through his dealer network ... his modest fee is well worth it, or you can take your chances with maybe getting a vehicle through your local dealer's allocation when/if they receive it

+2 for day laborer. Super solid, total pro.

[TXSchnee]

Originally Posted by m3heaven

Are USA dealers getting M60 allocations now? I told my dealer about 2 months ago that I wanted one and I submitted my build but haven't received any updates of a production number yet.

Yes, mine just came through. I was second in line at my dealer.

[npa201]

What is their estimated delivery date if you are 1st or 2nd on the allocation? I have a 50 that just got pushed into 2023 but is now in 112 status or something (they think Oct) and when I asked about the m60 earlier in the week, they said I’d be first in line but they have no allocations yet and would most likely be in January. I really am only considering it if I could get it before Oct because I can’t get the B&W speakers in my 50 build anymore although the m60 is shaking out to be about $15k more than my 2023 build that basically has every option checked off (which does feel a bit steep).

[CaboM4]

Originally Posted by npa201

What is their estimated delivery date if you are 1st or 2nd on the allocation? I have a 50 that just got pushed into 2023 but is now in 112 status or something (they think Oct) and when I asked about the m60 earlier in the week, they said I’d be first in line but they have no allocations yet and would most likely be in January. I really am only considering it if I could get it before Oct because I can’t get the B&W speakers in my 50 build anymore although the m60 is shaking out to be about $15k more than my 2023 build that basically has every option checked off (which does feel a bit steep).

Talk to Day Laborer ... he has plenty of options for you to likely get an iX with B&W delivered by October '22

[TXSchnee]

Originally Posted by npa201

What is their estimated delivery date if you are 1st or 2nd on the allocation? I have a 50 that just got pushed into 2023 but is now in 112 status or something (they think Oct) and when I asked about the m60 earlier in the week, they said I'd be first in line but they have no allocations yet and would most likely be in January. I really am only considering it if I could get it before Oct because I can't get the B&W speakers in my 50 build anymore although the m60 is shaking out to be about $15k more than my 2023 build that basically has every option checked off (which does feel a bit steep).

I currently have a week 28 production start and that should put it here late August/early September. Keep in mind my SA was expecting this allocation at the beginning of June, they are receiving them sporadically so it is hard to say how evenly the allocations will be sent to dealers. I was on the waiting list for the 50 as well, but that probably won't come up until 2023.

[sor]

Originally Posted by CaboM4

Talk to Day Laborer ... he has plenty of options for you to likely get an iX with B&W delivered by October '22

Unfortunately a lot of those have markups, many quite hefty ones. The majority are "TBD", I suspect that means the dealer isn't going to commit until it's closer to delivery, might as well hold out to see what they can get for it, but I don't know.

I'm game to order one from the spreadsheet but with the M60 already being marked up significantly for 2023 I'm not willing to pay more than MSRP, so I'm not sure it will work out. Still waiting to see if my dealer comes through with the allocation or we find something else first.

[Adrew777]

I was able to take over a dealer ordered M60 that was built on June 2nd and arrived at the Brunswick, GA port on July 2nd. It is now, once again, showing "at port" so I hope it finds a truck and arrives in the next week or two. Mine is a 2023 but the MSRP is pre-increase.

[ppagiga]

Originally Posted by TXSchnee

I currently have a week 28 production start and that should put it here late August/early September. Keep in mind my SA was expecting this allocation at the beginning of June, they are receiving them sporadically so it is hard to say how evenly the allocations will be sent to dealers. I was on the waiting list for the 50 as well, but that probably won't come up until 2023.

Is week 28 the week of July 18? I’m looking at Week 29

[TXSchnee]

Originally Posted by ppagiga

Is week 28 the week of July 18? I’m looking at Week 29

I think week 28 is the week of July 11th, and week 29 is the 18th.

[CaboM4]

Originally Posted by sor

Unfortunately a lot of those have markups, many quite hefty ones. The majority are "TBD", I suspect that means the dealer isn't going to commit until it's closer to delivery, might as well hold out to see what they can get for it, but I don't know.

I'm game to order one from the spreadsheet but with the M60 already being marked up significantly for 2023 I'm not willing to pay more than MSRP, so I'm not sure it will work out. Still waiting to see if my dealer comes through with the allocation or we find something else first.

I bought my iXM60 via DayLaborer @ BMW Anchorage. It wasn't even finished being built when I bought it. I paid $2k over 2022 MSRP price (as it was built in June, so not subject to $3800 increase), which still worked out to be cheaper than the vehicle with July 1, 2002 forward pricing. Was a no brainer to me. Car is currently at Port Bremerhaven pending transit to a dealer in NJ doing a courtesy delivery. Dealer is 5 minutes from my house.

You would be quite surprised. I would move my ass if you want any chance of getting something on the spreadsheet. Hans has literally documented every single vehicle available across the country on that spreadsheet that isn't marked as customer sold, so you can see ... its slim pickin'!