Buying used process

[ViperZ]

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Re: Retail sales tax on Used Vehicle

source

Be reasonable with the stated purchase price or they will take the Canadian Red Book value instead.

There is one for motorcycles?

 

[klr_guy]

Re: Retail sales tax on Used Vehicle

There is one for motorcycles?

no.

 

[insert]

As for the comments about a "red book" value, they dont do it for motorcycles, they will not assign a value to it. but they will send letters to buyer and seller asking what they have paid/been paid regarding the bike. If they get different numbers they charge you tax on the greater amount, you dont get a benefit of the doubt, and i am pretty sure there are some other charges that they may throw at you.

Can someone clarify that a used bike must have a safety regardless of the age?

Say 10 months old for example.

Thanks

brand new vehicles dont need a separate "safety" because its already done/included with guarantee of manufacturing to Canadian standards.

otherwise a safety is valid for 30 days, after that you need a new one.

 

[Sabex]

As said. there is no "book value" for motorcycles.

You can say you paid whatever you want. As long as the seller is also in agreement. They may send him/her a letter asking the price he/she sold it for; he/she can just ignore the letters and they'll stop after a few times or write down an agreed upon price.

 

[Skyway6]

Here's what my buddy did. He ended not asking the seller to get UVIP, paid $20 later. Whatever, his choice.
But he did pay $7000 back then for Yamaha R6 but on the bill of sale he put $3000 and they didn't even question him at DMT.

How risky is it to lie about the price on bikes?

I'm looking at the bike that is going for $6300 and right away seller said "Don't worry, I'll put $5300 on the bill of sale to save you some tax money."
I would hate to be caught in situation if they start digging but I also would love to keep some money aside for some gear that I want to buy.

i think it is slimey that the goverment charges taxes on a private sale of a used bike. Taxes paid when bought new, then again and again on each used sale.
so saving a few bux is ok by me. bastages get enough of our $$

 

[cbcanada]

i think it is slimey that the goverment charges taxes on a private sale of a used bike. Taxes paid when bought new, then again and again on each used sale.
so saving a few bux is ok by me. bastages get enough of our $$

how else are they going to feed the gravy train? thats the goverment! it takes four goverment workers to do one persons job in twice the time.

 

[SFer]

i think it is slimey that the goverment charges taxes on a private sale of a used bike. Taxes paid when bought new, then again and again on each used sale.
so saving a few bux is ok by me. bastages get enough of our $$

Don't get me started about the taxes. Gets my blood boiling. I would love to know how they manage to get away with it cause to me it sounds like something that should be completely illegal.

 

[nikiter]

Thanks guys. Great info.

This taxes seems like an endless loop. Unreal.

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