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Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n

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Old 09-03-2016, 07:24 PM   #1
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Gifting a vehicle and the tax bullshit.. How to

Long story short, my vehicle has been in my daughters mothers name since I bought it. I want it into my name once and for all. How am I suppose to go about doing the sale? Is there a way to gift it and avoid paying tax? It's been my vehicle the whole time. It's just a 2G TL. I'm thinking just to have the sale down for $1000 so te tax will be very minimal, but the car is worth more than that so I don't want problems arising as a result of that, right?We are not common law or anything or related unfortunately. Any info and help on this would be appreciated.
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Old 09-03-2016, 08:01 PM   #2
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when it comes time to insure, write the value down to $1000. you'll get asked why you paid so little and then you say that the car has a "transmission issue". not really lying since the 2G TL does actually have trans issues.
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Old 09-03-2016, 08:03 PM   #3
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I'm pretty sure you're daughter's mother would be considered family. And I can't see ICBC seeing anything fishy about transferring of property between family members.
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Old 09-03-2016, 08:04 PM   #4
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Just gift it. If you say it's exactly what the situation is, your not defrauding anything and 99% of the time auto plan doesn't care
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Old 09-03-2016, 08:08 PM   #5
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There are exemptions when transfering a vehicle and it includes family. Its just a simple matter of filling out the form and you avoid taxes altogether. There should be info on the ICBC website or talk to an Autoplan rep
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Old 09-03-2016, 08:19 PM   #6
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Old 09-03-2016, 08:56 PM   #7
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The Autoplan broker should have this form for you to fill out
http://www.sbr.gov.bc.ca/documents_l...s/0319fill.pdf
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Old 09-03-2016, 10:19 PM   #8
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I've got it. Thnx
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Old 09-04-2016, 02:53 AM   #9
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Old 09-04-2016, 03:07 AM   #10
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My Yamaha was declared $1000 when I actually paid $8200 to the previous owner. The insurance broker didn't bother to ask shit about it, then it was stolen 3 years later, ICBC paid me back the market price about $7000.
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Old 09-04-2016, 07:53 AM   #11
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ICBC just collects tax on behalf of Consumer Taxation Branch (CTB) unless the customer qualifies for any tax exemptions ( i.e.: gift exemptions). If there's any weird scenarios not listed for the autoplan agent and they want a tax exemption, the customer must contact CTB direct for approval.

Anything related to premiums and the value of the vehicle for a total loss will be ICBC responsibility.
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Old 09-04-2016, 09:11 AM   #12
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I'm pretty sure there are some provisions for spousal or ex-spousal transfer.....

but when I transfered ownership from my dad to me, all he did was fill out a form saying its being gifted to son.. taxable value is 0.00.
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Old 09-04-2016, 10:43 AM   #13
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The form has changed since the HST came in and then left but didn't actually leave used car sales... It's much more restrictive ie: you can't gift to friends anymore, has to be a direct relative. Also there's a branch of ICBC that does nothing but audit undervalue transactions and they're not kind about it. The form looks super scary mentioning jail time and fines haha fuckers...

I personally can't believe all these years have gone by and nobody with time and/or money on their hands has challenged this tax, it's ridiculous to collect tax on a used product.
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