Does anybody know what steps are required to register a motorcycle as a company vehicle and have it insured?
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Business registration and insurance?
- Thread starter PRONinja
- Start date
When I had a company owned vehicle I had to get a registration number. It takes the place of your drivers licence number on the registration. The licence plate due date is determined by the first letter of the business IIRC. That was for a van. I assume a M/C starts off similarly but goes nuts for insurance.
Carlos Vincent
Well-known member
A recreational vehicle registered as a business vehicle, it's not going to happen, even if it does, your premiums will be the same.
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As a business he could write off those premiums
Snobike Mike
Banned
And then has to claim taxable benefits for personal use.
So? If the vehicle is being used for business what's the problem?
Snobike Mike
Banned
None.
I have't had a business registered vehicle for a number of years but it used to be really punitive with stand-by charges. 2% per month of the purchase price was considered a taxable benefit. A $10 K M/C would be seen as a $200 taxable benefit. Twenty years later when the bike was worth $3 KL the purchase price would still mean a $200 taxable benefit.
Recreational vehicles come under close scrutiny when claimed as business expenses. Unless you're running a riding school a bike is not going to be seen as a business expense.
How about a courier?
Could work but a car is more practical so a M/C raises suspicions and requests for justifications. A farmer / rancher could claim certain off road vehicles as well.
There are some misunderstandings about Business write-offs in that people think it's a free for all. In particular, some multi-level marketing seminars from the USA try to make it sound like you can write off yachts, Winnebagos, vacations etc. It usually doesn't work.
Also if a bike is being used as a courier vehicle I suspect steep insurance rates so what's the benefit unless it's legit?
The OP doesn't mention the type of business but it could be legit. I met a scooter rider (Rukus) that drove around dropping insecticide pellets into sewers for mosquito control.
Dresden
Well-known member
+1 Be prepared to have your back door knocked on by the Canadian Rape Artists. Hardly worth it to save a few bucks.. unless it is indeed legitimately for business use.
I knew of a person who owed a crap load of money to the 407. So he was in plate denial program. Figured he would just change vehicles to company owned.. Didn't work. MTO wouldn't permit it until 407 was paid out..lol
I own a business and CRA would look VERY hard at a motorcycle as a business expense.
I own a business and CRA would look VERY hard at a motorcycle as a business expense.
What if your business was selling bike parts? Then could you do it and say it's for demonstration purposes?
CRA will want to see a log of kms for demos and apply a percentage factor. You lose.
Put "Commercial insurance" and "Motorcycle" in the same sentence to your insurance broker and watch the blood drain from his face.
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