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03-11-2010, 05:55 PM
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#1 | | "Entertainment" mod.
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| HST on private car sales "hidden" in budget
http://www.ctvbc.ctv.ca/servlet/an/l...ritishColumbia Quote:
The B.C. government is coming under fire for a tax hike critics say was hidden in last week's budget.
Quietly buried in last week's budget was an announcement to raise the PST on the private sales of vehicles, boats and aircraft. The move, which takes effect the same day as the HST on July 1, will see the tax raised from its current seven per cent level to 12 per cent. The move will net Victoria millions of dollars in tax revenue from British Columbians.
But many people didn't hear about it. Instead of calling a spade a spade in the budget, the government only said it would:
"Continue [the] provincial tax on private sales of vehicles, boats and aircraft, but at 12 per cent."
Bruce Cran of the Consumer Association of Canada says the increase is a clear example of lack of government disclosure.
"There was no transparency here."
But Minister of Finance Colin Hansen insists the raise was in plain view.
"Anybody that read the budget speech or listened to the budget speech would know I explicitly referenced this change," he told CTV News during question period at the B.C. legislature.
Clear or not, Hansen says the hike is coming, meaning British Columbians will soon have to pay more if they're buying a used vehicle.
Tsawwassen resident Peter Jeffs is selling his 2006 Mazda. He's hoping to make the sale before the tax takes effect, or risk making less from the sale.
"I'd be picking up the tab for some of that," he said.
Under the current tax rate, buying Jeffs' Mazda for $14,000 would mean $980 in PST. After July 1, the buyer would have to shell out an extra $700.
That number gets much bigger as the price tag gets higher. A $40,000 BMW would cost an extra $2,000. And someone buying a $200,000 cabin cruiser boat will need to shell out an additional $10,000.
Cran says the tax hike will fall directly onto the shoulders of consumers.
"In the end in think you have to look at this as a tax grab. It's a blatant tax grab."
| Looks like anyone else selling a car in the future is fucked.
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03-11-2010, 06:07 PM
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#2 | | My homepage has been set to RS
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Gotta take more tax money to pay off those debts from olympics...
Btw which party group is in power atm or more clear.. which one was in charge of handing out the money for the olympcis and shit? Anyone?
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03-11-2010, 06:10 PM
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#3 | | Wunder? Wonder?? Wander???
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motherfuckers. Should've knew it.
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03-11-2010, 06:12 PM
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#4 | | I Will not Admit my Addiction to RS
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hmmm i don't know if this makes sense but i don't think stuff that gets sold privately and depreciates should get taxed. the government is going to see an increase in gift letters from now on. haha
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03-11-2010, 06:12 PM
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#5 | | Rs has made me the man i am today!
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That's too bad. Initially they had indicated they would keep it to PST only but I guess they thought they could hide it. How do they think they could hide something that is so commonly used?
Idiocy.
Kev
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03-11-2010, 06:27 PM
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#6 | | OMGWTFBBQ is a common word I say everyday
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This is news to me. I was under the impression HST was going to affect everything anyways. Posted via RS Mobile | |
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03-11-2010, 06:38 PM
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#7 | | Banned (ABWS)
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welll we had fun during the olympics, now we gotta pay the price.
any idea how many years it will take to generate the $8 billion with the HST?
I bet you the HST will stay after we finished making back the $8 billion.
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03-11-2010, 06:40 PM
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#8 | | RS.net, helping ugly ppl have sex since 2001
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They took off the luxury tax on new cars, but introduce a +5% on used cars. Sneaky bastards.
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03-11-2010, 06:57 PM
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#9 | | I answer every Emotion with an emoticon
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i always thought hst will be applied to used vehicles anyways. i dont see any surprising news here. Posted via RS Mobile | |
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03-11-2010, 07:02 PM
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#10 | | RS.net, helping ugly ppl have sex since 2001
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FUUUU
I just listed my car for sale too!
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03-11-2010, 07:08 PM
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#11 | | "Entertainment" mod.
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| Quote:
Originally Posted by TypeRNammer FUUUU
I just listed my car for sale too! | Better hope it sells before the HST kicks in...
As much as I dislike the HST, we gotta pay for the Olympics somehow.
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03-11-2010, 07:17 PM
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#12 | | OMGWTFBBQ is a common word I say everyday
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What about importing cars from the USA? Would one need to pay 12% HST and another 12% PST?!
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03-11-2010, 08:05 PM
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#13 | | Willing to sell body for a few minutes on RS
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Tax shouldn't be applicable to USED cars at all.
Think about it, the tax was paid on the car when it was purchased new. To have the government charge tax on its sale again is fucking double dipping.
I'm glad I bought my new cars before the HST came into effect.
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03-11-2010, 08:09 PM
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#14 | | Everyone wants a piece of R S...
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youre also taxed on your income which you used to buy a car .... all together people .... ''tripple dipping''
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03-11-2010, 08:14 PM
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#15 | | Rs has made me the woman i am today!
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in layman's term this is called a screw you all tax, i'm going home...
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03-11-2010, 09:31 PM
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#16 | | I WANT MY 10 YEARS BACK FROM RS.net!
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now there's gonna be more tax evasions seeing cars are sold to "relatives or friends"
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03-11-2010, 09:55 PM
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#17 | | Old School RS
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| Quote:
Originally Posted by death_blossom What about importing cars from the USA? Would one need to pay 12% HST and another 12% PST?! | No lol, currently you pay 5% GST and 7% PST, soon you will just pay 12% HST. No change in the amount you pay for bringing a car in from the US or buying from a dealer.
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03-11-2010, 10:03 PM
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#18 | | Willing to sell body for a few minutes on RS
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| Quote:
Originally Posted by CorneringArtist Better hope it sells before the HST kicks in...
As much as I dislike the HST, we gotta pay for the Olympics somehow. | The Provincial Government has always got its piece of the pie on taxing used car sales. It's the Federal Govt. that will benefit from this and other areas where they'll now be collecting taxes where they weren't before. It's the reason they bribed the Provincial Govt. with a one time payment to bring this tax in.
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa | |
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03-11-2010, 10:22 PM
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#19 | | Head Moderator
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| Quote:
Originally Posted by r6_4life the government is going to see an increase in gift letters from now on. haha | Or an increase of cars being "sold" at a far lower price than listed, according to the transfer paperwork. ...not that I've ever done either one...  | |
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03-11-2010, 10:39 PM
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#20 | | My homepage has been set to RS
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IMO items should only be taxed when there is a profit to be made for the seller. But then how will the gov. make they're money. In the end I guess the taxes will benefit us all. Unless the politicians feel that their wages aren't enough for a normal standard of living.
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03-12-2010, 12:17 AM
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#21 | | I contribute to threads in the offtopic forum
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fucking bitches
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03-12-2010, 01:06 AM
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#22 | | Banned (ABWS)
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yes, tax dollars are abused. anyone know where i can see financial reports from the government? Where the money is spent and how much the polititian gets. It's funny how we pay them to spend our money.
If only we had the whole country 'group buy' the things we need like roads, education, and health.
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03-12-2010, 07:01 AM
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#23 | | Willing to sell body for a few minutes on RS
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Originally Posted by Lomac Or an increase of cars being "sold" at a far lower price than listed, according to the transfer paperwork. ...not that I've ever done either one... | It's probably safer to use the gift form than to underlist the price.
It's a lot harder for ICBC to prove that you're not the seller's "Friend" (and more time consuming for them too) than to prove you didn't pay taxes according to market value.
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03-12-2010, 07:59 AM
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#24 | | Banned By Establishment
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I usually underlist, but still at a reasonable price. Suspect this will redefine "reasonable".
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03-12-2010, 08:05 AM
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#25 | | Head Moderator
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Originally Posted by Great68 It's probably safer to use the gift form than to underlist the price.
It's a lot harder for ICBC to prove that you're not the seller's "Friend" (and more time consuming for them too) than to prove you didn't pay taxes according to market value. | This is true. I've purchased a few cars that had a claimed sale price anywhere between 10 and 50% of actual market value, though they weren't attempts at scamming. It was usually because the car I bought had a blown engine or transmission, or I only purchased it for parts. The first MX6 I bought (that eventualy burnt down) was purchased for only $300, and that was only for the previous owner to payback the dealership for the diagnostic fee they charged him after he oil-starved his engine. In instances like that, an autobroker might ask for proof as to why the purchase price was cheap (as they did to me that time), but usually they don't bother. However, pull it off too often and you very well might get investigated.
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