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09-22-2013, 10:11 AM
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#1 | | Captain Happy Bubble is my Homeboy
Join Date: Oct 2005 Location: Vancouver
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| icbc question
Hey all,
I am looking for an answer to a question my friend had asked me earlier, and I am hoping someone here can help her out. When she first bought her used vehicle, she had it gifted from the seller to avoid paying tax on the purchase. However, she was involved in an accident recently and ICBC had declared it as a write-off. During the accident reporting process, she mentioned to the ICBC agent the actual price she spent on the vehicle during the sale.
I told her Icbc may not cover the cost of her car because this may be considered fraud. What do you guys think?
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Last edited by chucki; 09-22-2013 at 01:56 PM.
Reason: For Clarity
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09-22-2013, 10:45 AM
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#2 | | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
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Whatever bad happens, it's called karma.
Just let her find out the hard way
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09-22-2013, 10:56 AM
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#3 | | I contribute to threads in the offtopic forum
Join Date: Mar 2005 Location: Surrey
Posts: 2,808
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| Quote:
Originally Posted by chucki  Hey all, I have a question that my friend had asked me that I am hoping someone here can help her out. She made a mistake when she fist got her car by having it gifted over. The car was involved in an accident and was a write off. However, when she reported the accident, she mentioned the value she spent on the vehicle during the sale. I told her Icbc may not cover the cost of her car because this may be considered fraud. What do you guys think?
Posted via RS Mobile | I told myself I was going to be nicer on RevScene and I was gonna start that trend with your thread but WTF are you talking about??
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09-22-2013, 10:57 AM
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#4 | | Head Moderator
Join Date: Dec 1982 Location: Great White Nor
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Shouldn't matter. I've had various cars either gifted to me or purchased at below market value and have never had a problem with ICBC paying me out. In fact, I got above market value for one car after it was destroyed.
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09-22-2013, 11:00 AM
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#5 | | Where's my RS Christmas Lobster?!
Join Date: Feb 2012 Location: Richmond
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| Quote:
Originally Posted by Lomac Shouldn't matter. I've had various cars either gifted to me or purchased at below market value and have never had a problem with ICBC paying me out. In fact, I got above market value for one car after it was destroyed. | But if you crashed or whatever, doesnt ICBC have the option to just give you the amount you paid for the vehicle instead of just fixing it?
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09-22-2013, 11:02 AM
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#6 | | Banned By Establishment
Join Date: Feb 2009 Location: bedroom
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So....you are here to solicit ideas on how to fraud icbc AGAIN?
gtfo.
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09-22-2013, 11:08 AM
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#7 | | Where's my RS Christmas Lobster?!
Join Date: Feb 2012 Location: Richmond
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Originally Posted by dinosaur So....you are here to solicit ideas on how to fraud icbc AGAIN?
gtfo. | Not really, all he is asking is that his friend started the fraud, and he is simply asking us if ICBC will fuck her or not.
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09-22-2013, 11:09 AM
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#8 | | #RVG
Join Date: Sep 2008 Location: BBY
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pretty sure you just get market value for your car... Could be wrong though
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09-22-2013, 11:09 AM
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#9 | | Head Moderator
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Originally Posted by z3german But if you crashed or whatever, doesnt ICBC have the option to just give you the amount you paid for the vehicle instead of just fixing it? | I'm not sure what the fine print allows ICBC to do in that situation, though I'm sure there's a clause that allows that.
That said, it seems a little silly if that's the case. I could pick up a car for dirt cheap, say $600, because it wasn't running. I'd then dump a bunch of money into making it road worthy and it would suddenly be worth $10,000 on the open market. If I crashed it, would ICBC be required to pay me out the $600 for the original purchase or $10,000 for the fair market value?
That was the situation I found myself in with my example above. I bought a car with a blown engine and transmission. I had a spare set laying in the garage so I swapped it in, fixed up the interior, and increased the value by thousands of dollars. A faulty charging system caused an engine fire and since ICBC found I wasn't at fault for it, they paid me out with a cheque that went above the typical market value. /shrug
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09-22-2013, 11:11 AM
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#10 | | Where's my RS Christmas Lobster?!
Join Date: Feb 2012 Location: Richmond
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Thanks Lomac, good shit to know!
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09-22-2013, 11:15 AM
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#11 | | I Will not Admit my Addiction to RS
Join Date: Nov 2012 Location: YVR
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tax isn't ICBC's concern... it's CRA and they put the hammer down if they find out.
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09-22-2013, 01:39 PM
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#12 | | Head of HR....have a seat on that couch
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Doesn't matter what you paid for a car. All that matters is what it was worth prior to the accident.
__________________ feedback
Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad RSUV #7 | |
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09-22-2013, 01:43 PM
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#13 | | Captain Happy Bubble is my Homeboy
Join Date: Oct 2005 Location: Vancouver
Posts: 319
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| Quote:
Originally Posted by Lomac Shouldn't matter. I've had various cars either gifted to me or purchased at below market value and have never had a problem with ICBC paying me out. In fact, I got above market value for one car after it was destroyed. | Thanks for the reply, good to know.
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09-22-2013, 01:48 PM
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#14 | | I'm invisible
Join Date: Jun 2002 Location: 604 Vancouver
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If it is private sale or gift exemption it's really up to consumer taxation branch (CTB), if they audit the tax situation.
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09-22-2013, 01:51 PM
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#15 | | Captain Happy Bubble is my Homeboy
Join Date: Oct 2005 Location: Vancouver
Posts: 319
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Originally Posted by 4444 Whatever bad happens, it's called karma.
Just let her find out the hard way | I suppose it could be one expensive lesson. Quote:
Originally Posted by parm104 I told myself I was going to be nicer on RevScene and I was gonna start that trend with your thread but WTF are you talking about?? | I am sorry it was hard to understand, will fix it now that I am on a computer. Quote:
Originally Posted by dinosaur So....you are here to solicit ideas on how to fraud icbc AGAIN?
gtfo. | That was not my intention. I was here to ask what ICBC would do in this scenario. This information might be beneficial to others who find themselves in this situation in the future. Quote:
Originally Posted by z3german Not really, all he is asking is that his friend started the fraud, and he is simply asking us if ICBC will fuck her or not. | Exactly. Quote:
Originally Posted by ICE BOY Doesn't matter what you paid for a car. All that matters is what it was worth prior to the accident. | Good to know, thanks.
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09-22-2013, 02:00 PM
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#16 | | Banned By Establishment
Join Date: Jul 2008 Location: Infiniti
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Originally Posted by z3german Not really, all he is asking is that his friend started the fraud, and he is simply asking us if ICBC will fuck her or not. | depends if shes 7/10 or not.
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09-22-2013, 02:01 PM
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#17 | | Head of HR....have a seat on that couch
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xilley'd
__________________ feedback
Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad RSUV #7 | |
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09-22-2013, 02:05 PM
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#18 | | #deephouse
Join Date: Mar 2010 Location: Vancouver
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is she hot?
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/// x AMG | |
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09-22-2013, 02:07 PM
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#19 | | Big Drama Show
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I'll fuk her if icbc doesnt
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09-22-2013, 02:22 PM
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#20 | | Captain Happy Bubble is my Homeboy
Join Date: Oct 2005 Location: Vancouver
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Originally Posted by xilley depends if shes 7/10 or not. | Lol, don't know if I can tell you that here. Too many friends on Revscene that will make things awkward haha.
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09-22-2013, 02:22 PM
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#21 | | OMGWTFBBQ is a common word I say everyday
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Pics
__________________
'16 Ram 1500
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09-22-2013, 02:52 PM
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#22 | | Fathered more RS members than anybody else. Who's your daddy?
Join Date: Aug 2002
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Nevermind chuki's friend, I want to see pic of this chick Saucywoman is talking about in the other thread.
__________________ Quote: |
"there but for the grace of god go I"
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Youth is, indeed, wasted on the young.
| YODO = You Only Die Once.
Dirty look from MG1 can melt steel beams.
"There must be dissonance before resolution - MG1" a musical reference.
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09-22-2013, 02:59 PM
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#23 | | Captain Happy Bubble is my Homeboy
Join Date: Oct 2005 Location: Vancouver
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Originally Posted by GabAlmighty Pics |  | |
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09-22-2013, 03:13 PM
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#24 | | Even when im right, revscene.net is still right!
Join Date: Jan 2013 Location: Vancouver
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ICBC can't refuse coverage for reasons of tax fraud.
However, ICBC can send this information to CRA or whoever deals with the tax form to have her investigated.
Either way, your friend's problem is two separate issues.
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09-22-2013, 03:55 PM
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#25 | | Fathered more RS members than anybody else. Who's your daddy?
Join Date: Aug 2002
Posts: 24,745
Thanked 11,510 Times in 4,902 Posts
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^^she's pretty hot......... looks like she has bruised lips from chucki's woody, LOLOLOLOLOLOL
__________________ Quote: |
"there but for the grace of god go I"
| Quote: |
Youth is, indeed, wasted on the young.
| YODO = You Only Die Once.
Dirty look from MG1 can melt steel beams.
"There must be dissonance before resolution - MG1" a musical reference.
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