Appraisal Requirement | GTAMotorcycle.com

Appraisal Requirement

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chefyong

New member
Hi,

Do you need an appraisal for motorcycles 20 years old and over for payment of HST prior to ownership transfer? Reason being, they do require them for vehicles (cars and suv's) over 20 years old at the Service Ontario.
Thanks
 
Not really in the proper sub forum. But easy answer is no. they require it for cars as there is a car blue book for HST not so for bikes. Have the seller give you a letter or receipt saying you paid $1 for the bike and pay your .13 cents HST

chefyong said:
Hi,

Do you need an appraisal for motorcycles 20 years old and over for payment of HST prior to ownership transfer? Reason being, they do require them for vehicles (cars and suv's) over 20 years old at the Service Ontario.
Thanks
Click to expand...
 
hedo2002 said:
Not really in the proper sub forum. But easy answer is no. they require it for cars as there is a car blue book for HST not so for bikes. Have the seller give you a letter or receipt saying you paid $1 for the bike and pay your .13 cents HST
Click to expand...

Did that change in the last 10 years?

In 2005 I bought a 1980 Yamaha Maxim and could not register it with MTO (tried two different offices) until I had it appraised. I ended up getting an "appraisal" from my mechanic who certified the bike which was accepted at MTO. Newer bikes, different story, the above scenario is perfectly possible.
 
When I registered my 1983 a couple of years ago, I needed an appraisal. The reason given was that as there is no blue book for them to compare your stated value to, (for them to determine if you're lying) they need to know what it is actually worth. They would then charge HST on the higher of the two values.
 
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tiborgh said:
Did that change in the last 10 years?

In 2005 I bought a 1980 Yamaha Maxim and could not register it with MTO (tried two different offices) until I had it appraised. I ended up getting an "appraisal" from my mechanic who certified the bike which was accepted at MTO. Newer bikes, different story, the above scenario is perfectly possible.
Click to expand...

Possible that it did change, when I registered my 82 Honda VF750S in '09 one office told me I needed one but could not provide a reason aside from age. Another office did not need it at all. Asked on GTAM and it turns out its just the policy of some offices, my guess is due to them being privately owned.
 
The only time I had to get a vehicle appraisal done waswhen I bought a '76 chevy truck. They told me the reason was that theywere getting people claiming they bought their classic car for a few hundreddollars, but it was worth tens of thousands. The appraiser came to my place for 80$ and looked at my beater and askedme how much I paid. I told him 200$ andthat’s what he wrote on his form.


So basically it’s just a way for the government to gettheir taxes.
 
DemonPig said:
I have a 49 year old car and no one asked me for an appraisal.

and even if you had to, you can appraise it to whatever amount you wish.
Click to expand...

Finding an appraiser that will put there certification on the line to save you a bit in tax is difficult. Now if the vehicle is not running/in unknown mechanical condition, the reasonable value can be much lower without anyone risking getting caught. You bought it cheap, fixed it, and now it's worth much more.
 
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