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Money Issues

 

Florida Use-Tax Does Not Apply To Canadian Registered Aircraft

  • COPA, working on behalf of its 18, 000 members has confirmed in telephone Discussions with the US State of Florida Department of Revenue that Canadians should have no concerns regarding the State of Florida Use Tax on Aircraft.

Recovering flying expenses

  • The Canadian Aviation Regulations allow for a private pilot to recover expenses under some circumstances. For example, to share costs with a passenger or on business flights for your employer.

Taking photos from airplanes

  • Several COPA members have asked recently about the rules for taking photos from airplanes and selling the photos.

Taxes and duty on imported airplanes

  • Recently a COPA member wrote to ask about taxes and duty on importing an airplane kit into Canada from the US. The kit plane manufacturer had told him that there are no taxes or duty for kits shipped to Canada.

Capital Gains Tax

  • The Capital Gains Tax was changed in October 2000 and since COPA Chairman Herb Cunningham’s Chairman’s Report in the March 2001 issue of Canadian Flight, several members have asked about the subject.

PST, GST and HST on airplane purchases

  • A COPA Member recently wrote in about provincial taxes on used aircraft. He was surprised to get a tax bill for HST from the province he lives in, after buying an airplane.

Taxes on cross-border aircraft repairs

  • Another COPA member wrote recently to indicate that he was surprised at having to pay taxes on work done on his Canadian-registered aircraft in the USA.

Aircraft financing

  • Most aircraft owners in Canada either buy their aircraft with cash or arrange financing through their local bank or credit union.

State of Maine Use Taxes (Update)

  • Recently COPA became aware that some aircraft owners have been charged large tax bills by the State of Maine on their recently purchased aircraft, even applying to those who simply visit.

Tax implications of bartering aircraft

  • A COPA member recently wrote to ask an interesting question: “I found an aircraft owner who is ready to trade me his plane and take my plane in trade. My question is can we swap airplanes without paying any taxes?”

Students and Income Tax

COPA Classifieds Work

  • It is a fairly common occurrence here at COPA that I get a phone call from a member selling an airplane, who is calling to complain that our classifieds don’t work.

Renting Out Your Aircraft