RST Tax Questions | GTAMotorcycle.com

RST Tax Questions

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Noob28

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Hey I'm new to riding and just bought my first bike 2008 cbr125r. I have yet to register it because I haven't got the money. I'm still in university and the money coming form a part time job. I was wondering about the rst taxes, the seller just I could put any amount. I was wonder if I put a reasonable amount would they accept it?

Thanks.
 
You can put $1 if you want, just make sure the seller is cool with it, incase ontario sends them a letter asking to confirm what they sold it for.
 
Tax is based on the amount you state that you paid. A 2008 125 isn't worth much more than $100....maybe even way less if there's damaged parts. For example, a 10 year old car bought for $20k is worth less than $200. If the MTO has any doubt, they send a letter to the previous owner asking what they sold it for. If they toss the letter, MTO may send another. If they toss the 2nd, no more will be sent AFAIK. Then end of story. Pass it on when you sell.
 
all above are correct.....one other little piece of advice
would suggest not waiting too long to register in your name
as long as it's in seller's name, he can still register liens against it
 
There is no book value. Red, blue black or rainbow....


The UVIP last page is a bill of sale you can fill out, but doesn't even need one(bill of sale) when transferring ownership. You just tell them....but a bill is nice for appearance sake.
 
So it should strictly just be 13% on the sale price, the UVIP won't have average wholesale value?
 
As has been mentioned, there is NO book value on a UVIP for motorcycles, RV's, etc.

Lots of good info above - re-read it all.
 
I was just confused because I called them(service ontario)and asked, specifically about rst on motorcycle and they said look into the uvip.
 
Noob28 said:
I was just confused because I called them(service ontario)and asked, specifically about rst on motorcycle and they said look into the uvip.
Click to expand...

80% of the people that work at Service Ontario couldn't find their own *** with both hands, this doesn't surprise me.

They are mistaken in this case.
 
Noob28 said:
I was just confused because I called them(service ontario)and asked, specifically about rst on motorcycle and they said look into the uvip.
Click to expand...

They might mean to look at the last page....the sales form...already discussed. And what PP said. Though, the one woman at the RH MTO office knew who Ted is.
 
JavaFan said:
all above are correct.....one other little piece of advice
would suggest not waiting too long to register in your name
as long as it's in seller's name, he can still register liens against it
Click to expand...

Service Ontario is IIRC OK with a delayed transfer but not the police. It's supposed to happen in around 6 days, again IIRC.

Had a buddy that sat on the paperwork for a while to see if the car was would run, asked a cop a question and got a ticket.
 
I accidentally forgot to switch my wife's first motorcycle for four months, the person at service Ontario really didn't seem to care. I bought it in December, gave it to her for Christmas, and didn't transfer it until mid April, not realizing until that Time that I had completely forgot to do so. My bad, Certainly not something I would recommend, but there didn't seem to be any repercussions at least in my case .
 
I've gone after 3.5 years and had no issue transferring.
I've bought bikes, owned them for a couple years, never registered them to my name.. and then sold them and transferred the ownership from the person I bought it from straight to the person that bought it from me. No issues.
I never used to register used bikes I was buying for track. No choice when they're new.
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