HTHM Posted February 23, 2014 Report Share Posted February 23, 2014 If one is to do a straight trade of a car for a boat, how does that work at the tax office? I could not find anything on the Ontario website. Link to comment Share on other sites More sharing options...
Joey Posted February 23, 2014 Report Share Posted February 23, 2014 I think you will still need a bill of sale to register in your name, and therefore would have to pay taxes on the "book" value I would think. But I could be wrong. Link to comment Share on other sites More sharing options...
BillM Posted February 23, 2014 Report Share Posted February 23, 2014 Trade is still a change of ownership, which = tax Link to comment Share on other sites More sharing options...
Gregoire Posted February 23, 2014 Report Share Posted February 23, 2014 (edited) I would check with an accountant but as far as I know barter is legal in Canada. There may be some paper work to do, but you should not pay taxes, maybe only a title transfer fee. I did a little digging and as long as what you are bartering is not something that would regularly earn you income than you should be ok...so as long as you are not a used car or boat salesman you should be tax free. I bough my last car new from Quebec and when I went to register it I was not asked to pay provincial sales tax on it, so it is possible to register a vehicle without paying taxes. Edited February 23, 2014 by Roaring Dan Seavey Link to comment Share on other sites More sharing options...
BillM Posted February 23, 2014 Report Share Posted February 23, 2014 I bough my last car new from Quebec and when I went to register it I was not asked to pay provincial sales tax on it, so it is possible to register a vehicle without paying taxes. You plated a new car in Ontario, purchased from Quebec and didn't pay HST? Or what this like 20 years ago? If you buy a new car in Quebec today, you'll be paying HST in Ontario when you plate/register it. Link to comment Share on other sites More sharing options...
HTHM Posted February 23, 2014 Author Report Share Posted February 23, 2014 If this deal does go through, I hope to have a definitive answer tomorrow. Link to comment Share on other sites More sharing options...
Gregoire Posted February 23, 2014 Report Share Posted February 23, 2014 You plated a new car in Ontario, purchased from Quebec and didn't pay HST? Or what this like 20 years ago? If you buy a new car in Quebec today, you'll be paying HST in Ontario when you plate/register it. It was a pretty recent transaction. My point was that you are not always asked to pay taxes when registering a vehicle. Link to comment Share on other sites More sharing options...
nancur373 Posted February 23, 2014 Report Share Posted February 23, 2014 Ask Wayne about it. I remember him saying something about barter is still legal. Link to comment Share on other sites More sharing options...
captpierre Posted February 23, 2014 Report Share Posted February 23, 2014 As far as I know, if you trade a car in at a dealership, you pay tax only on the difference might apply here too Link to comment Share on other sites More sharing options...
HTHM Posted March 1, 2014 Author Report Share Posted March 1, 2014 I think you will still need a bill of sale to register in your name, and therefore would have to pay taxes on the "book" value I would think. But I could be wrong. Joey gets the prize! She is correct. Link to comment Share on other sites More sharing options...
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