Sale price on a bill of sale

Neil_V said:

Again, pretty sure there''s a 10k fine for providing a false statement.. make sure you keep your ducks in a row.

i.e. Agree on value with the seller.

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Yep! Read on the bill of sale there could be ab investigation open that could lead to possible fine for if find guilty. So why taking the risk by putting false numbers that can attract attention. Better put the right number and get off the radar.

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As mentioned before, there will be no investigation if yourself and the seller or vice versa, are on the same page about the sale price claimed upon registration. The only way I could see this biting you in the *** is if the seller was unaware that you claimed to purchase the bike for a lesser amount without notifying them. When the letters are sent (doesn't always happen) the seller may have a different answer than you... in which case yes, now you may be dealing with some issues.

Easiest way to avoid this? Seems pretty simple... Make SURE you are both on the same page. If the letters happen to arrive? Agree to NOT respond. Toss them.

Easy.

And if you can't already tell, I too agree it makes no sense to pay tax every time a vehicle changes ownership.

clyder said:

Finally I went to get my plate, it was a lady with a mean serious look and asked me how much I paid for it, there's no way I could have give a too cheap price. I dropped the price my a couple of hundred and she was:"what!?" And I said the same price, next thing I see, she type something on the computer and give me the tax price, a hundred dollar more than originally expected; I think she checked the book value and taxed me accordingly

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Also, regarding the "mean face lady."

Don't know what happened there.. But feeling intimidated or not, if you and the seller agreed to a lesser amount, I would refuse to pay tax on whatever number she came up with... It would be 13% on what YOU said you paid for the bike. I would have had some fun with her haha.

I have physically been present with someone when they purchased my bike and went to register it. He claimed a dollar as the sale price. I accepted the loonie right in front of the MTO agent and we were on our way shortly after.