Paying HST on a used bike??? | Page 3 | GTAMotorcycle.com

Paying HST on a used bike???

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Rebelrider1 said:
The other thing you need to think about is if anything should ever happen to your bike - you may have some issue with insurance. If you drop the value in purchase, then you may be up a creek trying to re-coop funds for an accident/stolen bike.

Personally - I don't get it, it's like paying tax at a yard sale. But I've bought two used bikes and paid the stupid tax. Cash Grab I say!
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I wouldn't worry about that. Don't lowball the value when the insurance company asks you what its worth or what you paid trying to keep your premiums low. That may f*** ya, but I've found that providing 3-4 kijiji or autotrader ads of similar make/model/mileage will always get you to an adequate replacement value.
 
SlayerofSouls said:
For someone who is in school for law, I would have hoped you would have come up with a better argument than "corporations evade" so its okay. Perhaps a refund is possible?

Segregation laws for example, people didnt choose to ignore it, rather they stood up against it. Do you think you are making any difference cherry picking laws you follow and laughing at the ones you feel should be disregarded?
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Uh...are you kidding? Rosa Parks disregarded an unjust law by sitting at the front of the bus.
 
I bet slayerofsouls ALWAYS obeys the speed limit and never breaks the law, because laws were made to not be broken! That 20 over ticket was just police corruption! /s


Seriously go home slayerofsouls, must be really hard having friends with that kind of an attitude.
 
Rebelrider1 said:
The other thing you need to think about is if anything should ever happen to your bike - you may have some issue with insurance. If you drop the value in purchase, then you may be up a creek trying to re-coop funds for an accident/stolen bike.
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Huh?

So you think insurance is going to punish you because you got an amazing deal?
 
UltrA_09 said:
To sum up, both these posts are 100% correct;





1) Make sure both you and the seller are on the same page
2) Put down $1 on the bill of sale
3) When transferring ownership at the MTO, you will be asked for the purchase price. Confirm with them it was $1.
4) Pay the $0.13 in tax

*You and/or the seller may be sent a letter requesting purchase price; throw it out.
*You and/or the seller may be sent a second letter, throw it out as well.
*You and/or the seller may be sent a third letter (though unlikely), throw it out as well!

enjoy your $1300 in savings!


/thread...
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I hope it's this easy! Have you done this? or do you know of anyone who has actually put $1 on a bill of sale?
I'm buying another bike very soon and wondering if I should do it, but I do not actually 'know' anyone who has done it. There are a lot of people who are really good at talking but I haven't seen anyone who can say it worked for them!
 
Sheppard said:
I hope it's this easy! Have you done this? or do you know of anyone who has actually put $1 on a bill of sale?
I'm buying another bike very soon and wondering if I should do it, but I do not actually 'know' anyone who has done it. There are a lot of people who are really good at talking but I haven't seen anyone who can say it worked for them!
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I have put 1$ once and 100$ twice. Quad and two bikes.

As a matter of fact, I just sold my jeep to a lovely young lady for 50$. What an awesome deal eh! :)
 
Sheppard said:
I hope it's this easy! Have you done this? or do you know of anyone who has actually put $1 on a bill of sale?
I'm buying another bike very soon and wondering if I should do it, but I do not actually 'know' anyone who has done it. There are a lot of people who are really good at talking but I haven't seen anyone who can say it worked for them!
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I would hope that no one would admit to this on an open forum- try it and see what happens, let us know
 
Correct me if I'm wrong, but I don't think anyone has pointed out one very important thing.

It is my understanding that the MTO charges you based on whichever is greater between the purchase price and the book value - ie. you can say you paid $1 for it but if their system says it's worth $5,000 you're paying the tax on the $5,000. I know this is how it works with cars, not 100% sure on bikes though.
 
Yusiro said:
Correct me if I'm wrong, but I don't think anyone has pointed out one very important thing.

It is my understanding that the MTO charges you based on whichever is greater between the purchase price and the book value - ie. you can say you paid $1 for it but if their system says it's worth $5,000 you're paying the tax on the $5,000. I know this is how it works with cars, not 100% sure on bikes though.
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There is no blue book for bikes. Hence the price declared is what you are taxed on
 
Would it work if I paid you $30,000.00 to take my bike and you registered it as negative money paid? In theory you should get money back from the government! Reverse-tax.
 
meme said:
There is no blue book for bikes. Hence the price declared is what you are taxed on
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Some autos as well. My jeep YJ had no book value.

But my Dakota did, and the lady said she wished she could change it for me because it was such a rip off.
 
Last time I registered my vehicle, I didn't have to tell them how much I paid, however it was listed on a piece of paper showing that the owner was selling it to me and signed, which they never looked at. Just the pink slip, safety and exchange form.
 
Here's my take on it ...

The government really only cares about the frame. You write off a bike, everything else can get sold and put on another bike accept the frame. In fact if the frame is GREAT, but's been written off because of body panels etc, it can NEVER be put back on the road. So, the way I look at it, the frame is what the gov't cares about, and everything else is just accessories.

Just sayin' ... ;)

Now if you want to pursue that a little more on the "i'm going to court to defend myself" front, then I'd deduct from your sell price the retail value off everything that you could conceivably take off the bike and still ride it. Then deduct any aftermarket goodies (Remembering of course that 3 sets of tires have come and gone).

In case you want to justify the end price.

Hey, a $4500.00 mustang with 3k in wheels is only worth $1500.00 as a car.
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