The super-rich will face some new taxes thanks to the federal budget.

Luxury cars with sale prices of over $100,000, and boats for personal use with price tags of more than $250,000 will be subject to a 10 and 20 per cent tax starting January 1, 2022.

Non-residents who own Canadian properties that sit vacant will be hit with a one per cent tax on the value of the property also beginning January 1.

The federal government hopes those measures will raise hundreds of millions of dollars over the next five years but Mary Shortall of the Federation of Labour says it doesn’t go far enough.

She says while there doesn’t appear to be “a whole lot there” in terms of fairer tax reforms, but she was pleased to see there was no appetite for tax cuts or austerity measures.