Riceburner
Well-known member
Just curious why this is generally a huge mistake ?
Seems to be a common practice from speaking with people who buy/sell lots of items ? (Genuinely asking as I'm in the process of selling a vehicle myself and obviously want to stay within the letter of the law)
Cars have a book value the MTO goes by, so doesn't matter if you sell for less than it's value. Bikes do not have a book value as far as the MTO is concerned. Tax is paid on the sale price, whatever that may be.