"Gifting a bike" how's that work?

[theshnizzle]

If my son buys a bike down in Florida over the winter, in his name ect, and then "gifts" the bike to me, are there taxes to be paid on that gift coming over the border,registering the bike ect?

I would assume there is the import fee, of course, Also, has anyone here bought a bike unseen? Did you paypal a deposit or what? How does that work? You are sending money, do you get a receipt....How......?

[Fr0z3N]

I'm pretty sure he has to bring it here and register it and put it in his name etc, before he can gift it to you, once that is done and he gifts it to you, then you don't have to pay anything. other then safety of course

[DrSavant]

To answer the OPs question - you're still on the hook for taxes, as gifting is a local Ontario process - to get it here, you have to pay taxes. If as Frozen suggests, your son will bring it over and then gift it to you, it's kind of pointless, as he'll have to pay taxes/RIV/etc to import it.

[A-Dogg]

If my son buys a bike down in Florida over the winter, in his name ect, and then "gifts" the bike to me, are there taxes to be paid on that gift coming over the border,registering the bike ect?

I would assume there is the import fee, of course, Also, has anyone here bought a bike unseen? Did you paypal a deposit or what? How does that work? You are sending money, do you get a receipt....How......?

Why don't you contact the MTO? I don't see how asking a technical question such as this in an open forum for opinions from joe blow will help you. It may just land you into hot water.

[DrSavant]

Why don't you contact the MTO? I don't see how asking a technical question such as this in an open forum for opinions from joe blow will help you. It may just land you into hot water.

You have a point here, however many of the joe blows here are actually knowledgeable people. I'm a bike dealer, for example, specializing in importing from the US, so it's a part and parcel of my job to know things like that. A car salesman who actually remembers anything from the study materials for the licensing exam would know the right answers as well, as it is all required knowledge.

[Fr0z3N]

As DrSavant said lots of people on here know their stuff, I've done this before with a car which is why I know what to do.

My point was either way the import and purchase taxes must be paid by the original buyer (his son) then once gifted to him, he does not have to pay a dime other then to safety the bike if he plans on riding it. His son on the other hand does not have to safety it because he doesnt plan on riding it or keeping it in his name.