Tax on a used bike

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raph

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Hello all,

I am just wondering what everyone has experienced with dealing with the ministry when registering a used bike. Do they accept the bill-of-sale amount and just tax you based on that or do they use the blue book value, or some other method when determining the taxes that you have pay before getting a plate.

Cheers,
 
raph said:
Hello all,

I am just wondering what everyone has experienced with dealing with the ministry when registering a used bike. Do they accept the bill-of-sale amount and just tax you based on that or do they use the blue book value, or some other method when determining the taxes that you have pay before getting a plate.

Cheers,
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The price on the UVIP is what the tax is based on, provided it is not lower than the "bluebook" value.
If it is lower, then the tax is added to the "bluebook" value.
 
as caboose said there is no blue book ... if the ministry deems your number to be too low you and the seller will be getting a letter from the ministry
 
chiller said:
as caboose said there is no blue book ... if the ministry deems your number to be too low you and the seller will be getting a letter from the ministry
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Just make sure you and the seller are on the same page when it comes to the number on the UVIP

That is all.

Enjoy!
 
I'd wager if you searched this topic, you'll find amazing threads on what's involved, what other ppl do, and what other ppl do in regards to taxes/declaring...

Probably would find more posts about this topic that even those ATGATT threads...
 
I go against the grain apparently as I put the amount that I paid.
 
Baggsy said:
I go against the grain apparently as I put the amount that I paid.
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Yeah I've heard lying on the UVIP can have insurance implications if your bike is written off, but I've never actually read anything to confirm that. Anyone have a definitive answer?
 
If u understate the amount and don't let the seller know and they ask the seller and he tells the the correct price u will have to pay the difference in taxes and also a penalty fee that is of the same amount. Example- u paid $6000 and told them $2000 and paid the $260 tax on the $2000 u will have to pay $520(x2)=$1040. this is what happened to me I called them and told them it was a miscommunication with the rep when registering. They said I will have to get a signed letter from then confirming this and they will wave the understatement fee. I'm going to go in Monday morning hope all goes well. I let u know the out come. Bottom line either pay on the correct amount or like someone said on a previous post make sure u and the seller r on the same page.
 
espro said:
Yeah I've heard lying on the UVIP can have insurance implications if your bike is written off, but I've never actually read anything to confirm that. Anyone have a definitive answer?
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For car it did not make any differences last year when mine was totalled. The insurance even gave me more than what I paid to the dealer!
So, I guess it's the same thing for your bike, they will look on internet for same bike/model/year and offer you an average of the prices they found.
 
espro said:
Yeah I've heard lying on the UVIP can have insurance implications if your bike is written off, but I've never actually read anything to confirm that. Anyone have a definitive answer?
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No it can't. What you pay for a vehicle and what it's worth are two different things.
Let's say if you inherited a Bentley from your sugar plantation owning dad and then proceeded to crash it, do you think the insurance company would pay you nothing because you got the car for free?
All insurance companies do their own estimates, independently from ministry.

To those who want to pay full amount - go ahead. Pay your tax on something that's been taxed 10 times before already (And thanks Dalton, HST sounds fantastic, why not give even more?). That sounds fair and reasonable.
There should be zero tax on used vehicles from private sales. The amount of money I pay someone for something they already own should not be of any interest to our gov't. Canada is one of the most overtaxed nations in the world. If at least that cash was doing something good but no, it's supporting childcare in Quebec and Governor General's caviar parties.
 
DemonPig said:
No it can't. What you pay for a vehicle and what it's worth are two different things.
Let's say if you inherited a Bentley from your sugar plantation owning dad and then proceeded to crash it, do you think the insurance company would pay you nothing because you got the car for free?
All insurance companies do their own estimates, independently from ministry.

To those who want to pay full amount - go ahead. Pay your tax on something that's been taxed 10 times before already (And thanks Dalton, HST sounds fantastic, why not give even more?). That sounds fair and reasonable.
There should be zero tax on used vehicles from private sales. The amount of money I pay someone for something they already own should not be of any interest to our gov't. Canada is one of the most overtaxed nations in the world. If at least that cash was doing something good but no, it's supporting childcare in Quebec and Governor General's caviar parties.
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I agree, when HST was tacked on to used vehicle sales I was ******. The government claimed it was to make things fair for businesses (used car stealerships). Ridiculous!
 
Yes and other things like gas should be less expensive, but I don't steal them either.I draw the line a little different than many people who rationalize what they do.
 
i just picked up a UVIP this morning and on the first page it states that there is no assessed value to this bike, so the lady behind the counter said i can sell it for whatever i want...the amount put on the second page is what the buyer will pay taxes (hst - 13%) on...i wouldn't put an amount lower than the assessed value printed on the first page so check the UVIP...
 
I could see it being an issue if you have a problem with the bike and want to get your money back.

Here's your $500 that you paid tax on, now give me the bike back.
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