reelinrolly Posted June 16, 2012 Report Share Posted June 16, 2012 Hey Guys, I am in the market for a used boat and I think I have found my boat. I am unfamiliar with the steps involved in successfully transfering ownership over. Where do I go from here??? Do I pay tax at time of sale?? (how much is the tax?) Do you write up a bill of sale and have both parties sign it?? How do I check to make sure there are no leans on the boat?? Thanks for all the advice in advance!!! I appreciate it!! Link to comment Share on other sites More sharing options...
SlowPoke Posted June 16, 2012 Report Share Posted June 16, 2012 Dealer sale: You pay everything to the dealer and they will register the boat online, register the trailer and ensure liens are cleared. Private sale: You pay the negotiated price before tax. Have duplicate bill's of sale with both parties signing off (include hull, motor, trailer serial numbers). Obtain the vessel registration paper from Transport Canada from the seller. Obtain the trailer registration from the seller (seller keeps the plate portion). Take your bill of sale to the Ontario Motor vehicle license office and have the trailer ownership changed into your name. This is where you will pay the taxes. Download a vessel registration application from Transport Canada, complete form and mail it in with the required documents. While waiting for your vessel registration approval, you MUST keep the original bill of sale AND a copy of the vessel registration application with you while operation the boat. Not sure about a lien search... ask a local auto shop owner, they might be able to point you in the right direction. Link to comment Share on other sites More sharing options...
reelinrolly Posted June 17, 2012 Author Report Share Posted June 17, 2012 Thanks Bryan!! I read online that u should get seperate bills of sale for the boat and motor and trailer. This apparently allows u to pay taxes on the trailer and then pay taxes on the boat at a later date. Is this true??? Link to comment Share on other sites More sharing options...
G.mech Posted June 17, 2012 Report Share Posted June 17, 2012 Here is a link to Pat's Boating in Canada. It has a good section on all the ins and outs of buying a used boat as well as lots of other helpful information: http://boating.ncf.ca/license.html Link to comment Share on other sites More sharing options...
smally21 Posted June 17, 2012 Report Share Posted June 17, 2012 get seperate bills for each..only pay tax on the trailer at MTO. check this out procedures for pleasure craft licensing http://www.tc.gc.ca/eng/marinesafety/debs-obs-paperwork-paperwork_boat_licence-3211.htm Link to comment Share on other sites More sharing options...
JamesG Posted June 17, 2012 Report Share Posted June 17, 2012 you have to pay taxes on the boat and trailer, the engine can be seperate and no tax . you'll pay the tax on the boat about a year or 2 after you register it, the government is a little slow Link to comment Share on other sites More sharing options...
bow slayer Posted June 17, 2012 Report Share Posted June 17, 2012 what i did when i bought privately was the price was 12,000,the bills were broken down as such the boat 3000,the trailer 1500,and the motor 7500. Therefore i had to pay tax on the boat and trailer no tax on the 7500 for the motor. Have the bills made out so motor has as much value as not to pay taxes but be reasonable about it. Link to comment Share on other sites More sharing options...
reelinrolly Posted June 17, 2012 Author Report Share Posted June 17, 2012 If the owner owes money on the boat is a lean on it?? Link to comment Share on other sites More sharing options...
SlowPoke Posted June 17, 2012 Report Share Posted June 17, 2012 If the owner owes money on the boat is a lean on it?? If he owes money, he needs to pay it off before he sells. You will want a copy of the release from his lender. You may be able to make payment to his lender for the balance owing to speed things up. At least this guy is up front about it. Link to comment Share on other sites More sharing options...
Millhouse2020 Posted June 18, 2012 Report Share Posted June 18, 2012 All good advice here. Especially the 3 seperate bills for boat, motor and trailer. Thus far, I only paid HST on the trailer when I bought my boat privately last year. I have not been contacted yet regarding the boat registration and taxes on the boat however I did receive my registration papers fairly quickly last year. Link to comment Share on other sites More sharing options...
AdamS Posted June 4, 2014 Report Share Posted June 4, 2014 Hi guys I know this is an older post but had a question relating to splitting the sale. I bought a boat from the US and I've read everywhere to bring all correspondence from the sale (i.e. all communication/emails between you and the seller) with you when you import it, as it speeds up the process, and eliminates potential questioning. My question is, if you agreed to a fixed price, say $5000 for boat,motor & trailer, wouldn't customs question you if you broke the payment down into 3 separate bills of sale? And has anyone done this with success? Link to comment Share on other sites More sharing options...
Tim Mills Posted June 4, 2014 Report Share Posted June 4, 2014 They don't care as long as the splits what i did when i bought privately was the price was 12,000,the bills were broken down as such the boat 3000,the trailer 1500,and the motor 7500. Therefore i had to pay tax on the boat and trailer no tax on the 7500 for the motor. Have the bills made out so motor has as much value as not to pay taxes but be reasonable about it. Good advice from Bowslayer, they don't care they just want they're cut. What state are u buying in? I Had trouble getting an imported trailer plated here because Ohio does not issue trailer ownerships. Find out from your local service ontario what paper work they need/expect to get trailer plated in Ontario. Link to comment Share on other sites More sharing options...
BillM Posted June 4, 2014 Report Share Posted June 4, 2014 Hi guys I know this is an older post but had a question relating to splitting the sale. I bought a boat from the US and I've read everywhere to bring all correspondence from the sale (i.e. all communication/emails between you and the seller) with you when you import it, as it speeds up the process, and eliminates potential questioning. My question is, if you agreed to a fixed price, say $5000 for boat,motor & trailer, wouldn't customs question you if you broke the payment down into 3 separate bills of sale? And has anyone done this with success? Customs doesn't care at all but the seller should give you a bill with all that broken down already. When we brought over our Lund from Michigan we had one sales receipt with the motor, trailer and boat listed separately. You need to make sure you either have the title in hand or a note from the bank stating their are no liens.. Other then that it's cake, it took us 10mins to get through customs in the Sault. Link to comment Share on other sites More sharing options...
AdamS Posted June 4, 2014 Report Share Posted June 4, 2014 Hey guys thanks for the replies. TimRM I'm buying in New york. The seller says they have all the paperwork and boat/trailer is in good standing. Link to comment Share on other sites More sharing options...
hirk Posted June 5, 2014 Report Share Posted June 5, 2014 Hey guys thanks for the replies. TimRM I'm buying in New york. The seller says they have all the paperwork and boat/trailer is in good standing. Read pats boating site, everything may be inorder in their opinion but dont assume that, for instance if the trailer vin # is scratched so that you cant read part of it or missing entirely you will not pass inspection here and would be forced to remove it from canada within 45 days. Link to comment Share on other sites More sharing options...
AdamS Posted June 5, 2014 Report Share Posted June 5, 2014 Ya I found that site and read up on peoples experiences. Theres a lot of really good experiences and some bad ones too! Should I have 3 different bills of sale or all on one with the amounts split? Link to comment Share on other sites More sharing options...
hirk Posted June 5, 2014 Report Share Posted June 5, 2014 All on one split is fine, you will pay hst on the boat and motor at the border and pst on the trailer at mto. Link to comment Share on other sites More sharing options...
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