Got pulled for going over 50KPH here in Ontario Canada on a back road where the limit goes from 80 to 50 quickly but I was lucky the officer dropped it down, but he told me they could take my car and way more. Sure enough heres the law around here:

If you are charged for speeding at 50 km/h over the speed limit, police will suspend your licence and impound your vehicle at the roadside.
Penalties for street racing, stunt driving and driving 50 km/h or over the speed limit
Pre-conviction – Immediate 7-day licence suspension and 7-day vehicle impoundment
Upon conviction - $2,000 to $10,000 fine, 6 demerit points, up to 6 months jail, up to 2 years licence suspension for a first conviction
Second offence – Driver licence suspension up to 10 years within 10 years of first conviction
The following demerit point pen alties are assigned to a driver convicted of a speed-related offence. Remember, if you collect enough demerit points, you can lose your driver's licence.
3 points for exceeding the speed limit by 16 to 29 km/h
4 points for exceeding the speed limit by 30 to 49 km/h
6 points for exceeding the speed limit by 50 km/h or more

Consider yourself luckymy friend!