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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 06-04-2012, 09:22 AM   #51
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yo dawg, I heard you like tax on your tax....
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Old 06-04-2012, 09:26 AM   #52
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Originally Posted by Gridlock View Post
They think its a crime that people aren't handing over money to the government when they buy a used car. I say fuck you.
Thing is it IS a crime they way current tax laws are written. You can despise big businesses for creatively dodging business taxes, but they are done legally if only just barely. The people buying 'gifted' cars are without a doubt the same ones who bitch about carbon tax, translink tax, etc etc. You save tax one place, you pay more somewhere else; its the circle of life.

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You buy a new house, you pay tax. You buy a used house and what now?
Maybe I'm missing e-sarc, but property transfer tax 1-2% of fair market value? If they were jerks they could have asked for the full 7% PST on used homes and there would be not a thing you could do about it. Maybe gift a house? Doesn't matter because tax is on fair market value and it wouldn't be difficult to implement FMW on used vehicles.
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Old 06-04-2012, 10:38 AM   #53
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You know...totally sidetracking here.

It fucking pisses me off.

Students in Quebec...I think they are off their fucking rockers, but whatever. The gov't announces increases to tuition and they take to the streets in mass protests for months.

Shift a language and a few provinces over and in BC, you have people defending everything as pro-tax.

"Oh, well, we need that money to do whatever and whatever"

"Everybody pays"

We finally stand up on the HST, which may have been a good idea, but implemented poorly and a) the fucking thing still hasn't been repealed and b) people are still sitting there saying "well, it would have been good for others, so I'll take it again"

The government is charging 12% on used cars...used! Hey...you want to take a few points off the top, I get it, its Canada and we have expensive shit to pay for, but 12 fucking percent? And then act surprised when people try to get around it?

Fuck!

Are we supposed to line up like lemmings with our pants at our feet?

I find it really easy to remove oneself from the sheer amount of tax on everything, but when I switched to self-employed, when it was a check I was having to write to pay it, man, it starts to make my blood boil.
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Old 06-04-2012, 11:43 AM   #54
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Are we supposed to line up like lemmings with our pants at our feet?
you forgot about spreading 'em & bending over...bending over is key...
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Old 06-04-2012, 02:13 PM   #55
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If they do decide to get rid of the "gift" loophole,there will be alot of vehicles being sold for $100.Either way there are loopholes around everything,if theres a will theres a way.
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Old 06-04-2012, 04:57 PM   #56
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Students in Quebec...I think they are off their fucking rockers, but whatever. The gov't announces increases to tuition and they take to the streets in mass protests for months.
I give those students props for being so unreasonable that they are being heard, no idea how they are pulling it off and gov actually gives a damn. Their tuition rates are already lowest in Canada by a considerable margin, and they are fighting an increase of $325/yr for the next 5 years which will bring tuition close to national average, but in 5 years the national average will likely be much higher than $4700/yr. When did university education become an entitlement and right??

Maybe if the Quebec gov collected more tax on used cars they would have the money to fund the education shortfall.
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Old 06-04-2012, 05:25 PM   #57
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The taxman will always want more.....
Just like the population, what a coincidence..
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Old 06-04-2012, 05:46 PM   #58
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Heh this is funny.. but I was selling one of my cars a couple days ago, I went with the buyer to an autoplan and filled out the transfer form. The autoplan agent (some lady) for some reason couldn't find out the estimated market value for the car. So she insisted that we fill out a gift form since it is "legal". This is even after the buyer told them that he PAID me and even wrote down the price on the transfer form. I was really surprised that they did that.
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Old 07-10-2013, 08:37 PM   #59
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Wow, so apparently this law has been in place since April 1 2013. It's going to cost me 2000$ in taxes to gift the car to my common-law girlfriend. What the flying fuck BC.
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Old 07-11-2013, 08:07 AM   #60
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^^ Fuck that. Keep the car yourself, get her to pay you for the insurance, and just make her the principal operator.
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Old 07-11-2013, 11:10 AM   #61
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You just put down the value as $1 now instead
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Old 07-11-2013, 11:29 AM   #62
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^^ Fuck that. Keep the car yourself, get her to pay you for the insurance, and just make her the principal operator.
Then when she totals it and doesn't reinsure something that accident attaches to you instead of her.......First rule of ICBC is ICBC always gets there's and then some.
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Old 07-11-2013, 11:30 AM   #63
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Wow, so apparently this law has been in place since April 1 2013. It's going to cost me 2000$ in taxes to gift the car to my common-law girlfriend. What the flying fuck BC.
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sell it to her for 1 BJ..... you don't have to sell it for money...... it could be for something she did for you.

I wonder whould that work..... IE selling my car to a friend for fixing my computer. Maybe he charge $20k per hour and since he fix my PC I am giving him my car in exchange for the work he have done......
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Old 07-11-2013, 11:58 AM   #64
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Wow, so apparently this law has been in place since April 1 2013. It's going to cost me 2000$ in taxes to gift the car to my common-law girlfriend. What the flying fuck BC.
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If you are common-law, she would be defined as your spouse, therefore close family member.
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Old 07-11-2013, 11:59 AM   #65
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You just put down the value as $1 now instead
Try explaining how that is fair market value when you get audited.

Non Qualifying Gifted Vehicles Are Taxed at Fair Market Value
If a customer has received a vehicle as a gift, but the situation does not meet the criteria outlined under exemption “Gift between Related Individuals”
• tax must be paid on the fair market value declared by the gift recipient in the following way:
o 12% PST tax rate for BC vehicles and Canadian imports
o 7% PST tax rate for US imports

The fair market value is used as the purchase price to complete the transaction.
Fair Market Value is the price a vehicle would be sold at
o by a willing seller
o to a willing buyer
o if neither was under and pressure, and
o if both parties have complete understanding of the condition of the vehicle and the relevant vehicle market
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Old 07-11-2013, 04:26 PM   #66
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just say the rest are "services"
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Old 07-11-2013, 04:39 PM   #67
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So what happens when I actually want to trade or gift a car to someone? What if I actually bought a car for $50?

Either way, the appropriate taxes were paid when the car was new, therefore taxing that same item again in the case of a private transaction is a one hundred percent evil lizard overlord wall st. zionist scam. I don't see the government taxing me when I want to sell a welder to a friend, a welder that is worth more than some of the cars actually for sale right now.

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Old 07-11-2013, 05:55 PM   #68
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So what happens when I actually want to trade or gift a car to someone? What if I actually bought a car for $50?

If you traded or received a car as a gift, you would have to declare a value (fair market) for it. I.E. 2000 Acura 1.6EL, you got as a gift, you would have to go on CL and see what similar condition vehicles are there and compare prices.

Let's say the average value is $3000 and you declare $1, just be prepared to possibly explain (to your insurance broker and/Consumer Taxation) how your vehicle is worth one dollar if it's the same condition as a $3000 car.
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Old 07-11-2013, 07:36 PM   #69
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Wow I had no idea this had come into effect.

Just found the new form here: ICBC | FAQs | Can I transfer a vehicle to my exwife without paying tax

It is for related family only. It does not mention common law.

I think people are going to declare low purchase prices instead. We all know it's been happening for years.
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Old 07-11-2013, 09:02 PM   #70
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I don't see the government taxing me when I want to sell a welder to a friend,
Be careful what you wish for...
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Old 07-11-2013, 11:41 PM   #71
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Tax Exempt code: (a.)
Reason: NeedNewEngineBecauseRaceCarOnlyImaginbru__________ ________
*Not one fk was given that day.

It's also not an agent's responsibility to know what your car is worth. IMO I don't think CRA is gonna hunt you down for selling $3 -4 -6k below market value. 12+ yrs not one case I herd back from CRA for investigation. Just sayin.
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Old 07-12-2013, 06:45 AM   #72
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How long do you think until they change it so tax is based of blue book value regardless how much you paid for it? I could see them doing this in the future. I've never cheated on the vehicle taxes myself because I'm scared I'll get caught but more power to those who do, taxing used vehicles is total bullshit.
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Old 07-12-2013, 11:04 AM   #73
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Tax Exempt code: (a.)
Reason: NeedNewEngineBecauseRaceCarOnlyImaginbru__________ ________
*Not one fk was given that day.

It's also not an agent's responsibility to know what your car is worth. IMO I don't think CRA is gonna hunt you down for selling $3 -4 -6k below market value. 12+ yrs not one case I herd back from CRA for investigation. Just sayin.
Raises good question. What if we declare way undervalue and just say the car needed a new motor or total rust restoration or something?
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Old 07-13-2013, 01:43 AM   #74
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Wow I had no idea this had come into effect.

Just found the new form here: ICBC | FAQs | Can I transfer a vehicle to my exwife without paying tax

It is for related family only. It does not mention common law.

I think people are going to declare low purchase prices instead. We all know it's been happening for years.
I think the argument can be made that common-law falls under related family.

Common-law couples as good as married in B.C. - British Columbia - CBC News
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