The Reasonably Priced Used Motorcycles for Sale Thread | Page 18 | GTAMotorcycle.com

The Reasonably Priced Used Motorcycles for Sale Thread

Chasem said:
we pay tax on pretty much everything... vehicles are no different. unless you are one of those people that claim a new bike is worth $100.
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Tax was already paid on the vehicle once. Makes no sense for tax to be paid on it again in a private sale. Bike or car changes hands enough times and the gov't collects more in tax than the value of the vehicle. If you sell your vehicle for more than you bought it for (say you fixed it up), you actually have the declare the gain on your income tax. Sell your vehicle at a loss, and you don't get the benefit of declaring a capital loss.
 
espro said:
Tax was already paid on the vehicle once. Makes no sense for tax to be paid on it again in a private sale. Bike or car changes hands enough times and the gov't collects more in tax than the value of the vehicle. If you sell your vehicle for more than you bought it for (say you fixed it up), you actually have the declare the gain on your income tax. Sell your vehicle at a loss, and you don't get the benefit of declaring a capital loss.
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I get that tax was already paid... I truly do. Frankly it sucks that we have to pay tax on used vehicles, unlike Alberta. Undervaluing a vehicle at the MTO office is considered Tax Evasion... which is not taken lightly. Maybe I should move back to Alberta lol.


Just so I don't clog the thread...

2013 CB500X
http://www.kijiji.ca/v-sport-tourin...le/1012326391?enableSearchNavigationFlag=true would be a fantastic commuter.
 
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