davey buoy Posted March 27, 2015 Report Posted March 27, 2015 Since I picked up my new to me vehicle for X # of $. When we go to pay the taxes,change ownership,plates etc.Does the bill of sale you have from the seller hold any weight?or is it strictly a number you pay from the pricing books and you pay taxes on what they believe is fair market value?Hearing all kinds of mixed opinions.Anyone know for sure?,Thanks. Dave.
ecmilley Posted March 27, 2015 Report Posted March 27, 2015 You pay the book unless you have appraisel done for lower than book also seems to be the mood of the person you get at mto
davey buoy Posted March 27, 2015 Author Report Posted March 27, 2015 You pay the book unless you have appraisel done for lower than book also seems to be the mood of the person you get at mto Thanks,thinking I hope my receipt holds up?.It's actual price but somehow I feel like I will be paying Ottawa a lot more .
leaf4 Posted March 27, 2015 Report Posted March 27, 2015 Receipt should be all it takes, I gave my buddy my 2002 protege cause he needed a car when I bought my new one, I "sold" it to him for a dollar so he literally paid thirteen cents tax on a car with 220,000km and in decent shape
davey buoy Posted March 27, 2015 Author Report Posted March 27, 2015 Receipt should be all it takes, I gave my buddy my 2002 protege cause he needed a car when I bought my new one, I "sold" it to him for a dollar so he literally paid thirteen cents tax on a car with 220,000km and in decent shape How long ago was that?
leaf4 Posted March 27, 2015 Report Posted March 27, 2015 (edited) This past August Edited March 27, 2015 by Lucas F
HTHM Posted March 27, 2015 Report Posted March 27, 2015 It depends on the age of the car, older than 15 years, reciept will carry. Newer than 15 years, book value or appraisal whichever is lower. A lot of corner car lots are getting into the "appraisal" business. I just had one done for a car I own, saved me some coin on tax.
KLINKER Posted March 27, 2015 Report Posted March 27, 2015 85 ford F250 about a year ago needed an appraisal.
Mister G Posted March 28, 2015 Report Posted March 28, 2015 Get creative on your computer and make up your own appraisal and be done with it. Or send more money to Ottawa because they can always waste more.
moxie Posted March 28, 2015 Report Posted March 28, 2015 Like the "Make your own appraisal form". I particularly like the way the tax is "Taken" over and over again after every sale throughout the life of the vehicle. Sweet gig the Mob like, extortionist Tax Lords have goin' eh?
HTHM Posted March 28, 2015 Report Posted March 28, 2015 Get creative on your computer and make up your own appraisal and be done with it. Or send more money to Ottawa because they can always waste more. Like the "Make your own appraisal form". I particularly like the way the tax is "Taken" over and over again after every sale throughout the life of the vehicle. Sweet gig the Mob like, extortionist Tax Lords have goin' eh? It has to be done on a form supplied by Service Ontario.
davey buoy Posted March 28, 2015 Author Report Posted March 28, 2015 Just back from the ministry,no loop holes.Appraisal may get you a slightly lower price.Receipts do not mean anything at least on this vehicle.Black book price on this vehicle was $1000 more than I paid.Retail,$3000 more than I paid.In a nut shell I have to pay tax on the black book price.Not fair,but they are slowly getting rid of all the loop holes. Thanks guys for the info. Dave.
BillM Posted March 28, 2015 Report Posted March 28, 2015 They pick the higher of the two, what you paid or the book value.
JoshS Posted March 28, 2015 Report Posted March 28, 2015 (edited) I've bought three used cars and paid tax on the bill of sale twice and book value the other time. My first car we wrote up the bill for "$1" and I ended up paying tax on the book value. My jeep got written up as $2.5k, book value was 5, and I paid tax on the 2.5k. My current car I paid tax on "$7k" even though the retail book value was way more. If you buy a car "as is" ... why should you have to pay tax on the book value when the car isn't worth that "as is"? So you spend a few bucks and fix it up, you should still pay tax on what you paid for the car. That said, makes sense for the rules to say you have to pay tax on the greater of the two values considering how you can write up a bill of sale for anything you want. Think it really depends on who's working that day at Service ON. Edited March 28, 2015 by JoshS
Old Ironmaker Posted March 28, 2015 Report Posted March 28, 2015 My father "gifted" my niece a very nice vehicle. She paid taxes on MOT blue book value which was less than the appraised value. Apparently she could have shown the appraised value on her income taxes but I don't have the specifics on how that works. In my experience you are at the mercy of the person at the Ministry behind the counter. I was told by a ministry clerk who dated a pal, never do business with them on a Monday morning or Friday afternoon. She said the best time is just before lunch, they want to keep it simple and whatever is easiest for them.
irishfield Posted March 28, 2015 Report Posted March 28, 2015 (edited) Your niece shouldn't have paid a dime! A vehicle can be gifted from a Grandparent for free, nothing needed but a sworn statement that any town clerk or notary public can sign for you. Did same with my Mother's car to my nephew when she passed away on 2009. Edited March 28, 2015 by irishfield
davey buoy Posted March 30, 2015 Author Report Posted March 30, 2015 Just a update, Getting a appraisal tomorrow.Did you know that when a vehicle as mine for instance was just e-tested Last June,BECAUSE IT WAS SOLD,I need a new emissions test by this June,?.That would put me in the wrong year for vehicle. Man the taxes that are paid are enormous.If she would of kept the truck,you get a extra year.WTH.Tax grab or what.
smitty55 Posted March 31, 2015 Report Posted March 31, 2015 It must have to do with the age of the vehicle. I transferred a '96 Park Ave today. There was no book value in the database so I paid $65 on the $500 receipt. Plus that Bull $20 "search" charge and a $14 transfer fee. Call it a C note. Cheers
Old Ironmaker Posted March 31, 2015 Report Posted March 31, 2015 Irish Aviator, I knew that there may have been a way to dodge the tax collector but didn't want to get too involved in that deal. It's very nice for my parents to bequeath their hard earned money to the grand kids but a 25K vehicle because she needs a car to get to university and home. I suggested they get her a $5000.00 car and put 20K in a secret account for when she is in a position to buy property. |That 25 K car 4 years ago is worth what 7 or 8 thousand now.
BillM Posted March 31, 2015 Report Posted March 31, 2015 Just a update, Getting a appraisal tomorrow.Did you know that when a vehicle as mine for instance was just e-tested Last June,BECAUSE IT WAS SOLD,I need a new emissions test by this June,?.That would put me in the wrong year for vehicle. Man the taxes that are paid are enormous.If she would of kept the truck,you get a extra year.WTH.Tax grab or what. Emissions testings in this province is such a scam. So it's got a valid e-test on file (Which is good for a year) but now requires another one because it was sold, lol. What a crock of you know what.
Mister G Posted March 31, 2015 Report Posted March 31, 2015 Emissions testings in this province is such a scam. So it's got a valid e-test on file (Which is good for a year) but now requires another one because it was sold, lol. What a crock of you know what. This is what's called government at it finest stealing money from those who it's suppose to serve. Remember, the more money collected by governments, the more money they have to waste.
Canuck2fan Posted March 31, 2015 Report Posted March 31, 2015 (edited) Just a update, Getting a appraisal tomorrow.Did you know that when a vehicle as mine for instance was just e-tested Last June,BECAUSE IT WAS SOLD,I need a new emissions test by this June,?.That would put me in the wrong year for vehicle. Man the taxes that are paid are enormous.If she would of kept the truck,you get a extra year.WTH.Tax grab or what. While it is total Bull and a scam.... It isn't really a tax grab, because the Ontario guberment only gets a nominal set fee from the garage for each test they do and 7% of the 30.00. What is strange is that Harper takes his cut of 6% and we know he DOESN'T even pretend to care about the environment LOL. The biggest reason why they make you do a test when you buy a vehicle that has a valid one is simple... It PROVIDES a steady of source of revenue for the garages who do the testing to pay for the equipment... If that requirement was dropped it would mean that many fewer tests to do. So how many garages would have said NO THANKS to paying staff to upgrade to the new system and buy the equipment? I know a couple of garages who dropped out of the program citing the cost to buy into it just wasn't worth the cost to change over.... Of course the garages have always made their real money when you failed and they can charge you another 49.99 to 125.99 just to tell you what the codes WERE that made you fail. Then they start diagnosing for even more money. I would bet that the government actually takes in even less tax money overall now with the OBDll test than it did before. The reason being if you have no check engine lights or if you are still worried and bought a 5.00 OBDll doggle off of Ebay for your smart phone you KNOW you are going to pass. So if you are smart, and don't see a CEL you don't go do an oil change you might not have needed mileage wise, replace the air filter, fuel filter if you can, do a sparkplug, wire change and then run through a tank of PREMIUM fuel like lots of people used to do EVERY time before the sniffer test. Because they really had no clue if they would pass or not.... So a few basic preventative measures seemed wise. Edited March 31, 2015 by Canuck2fan
davey buoy Posted March 31, 2015 Author Report Posted March 31, 2015 Still a crock as far as I'm concerned.That vehicle ,the ladies birthday was last June,being a odd vehicle year you would think they would let it go to my birthday in March?,That would be 2016.Mind you March earlier then June,but that would not be a issue.Had it appraised today,all is good.
davey buoy Posted March 31, 2015 Author Report Posted March 31, 2015 This is my new work truck,always had a nice family vehicle.This is a big step for me as I always bought a very used vehicle lol. I'm sure I will enjoy!!!!
Mister G Posted April 1, 2015 Report Posted April 1, 2015 Who makes that truck, Tonka ? ? ? LOL JK, the Pathfinder is one fine SUV. I'm sure you enjoy that new sweet ride
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