Taxes on motorcycle from friend.

[ANDRASTA]

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So my girlfriend is buying a motorcycle from a friend of ours. Essentially the sale price is what we want it to be. Now its my understanding that there is no formal taxation mandate on motorcycles as there is on cars.

If our friend writes a receipt for x amount for sale of the motorcycle , would there be any complications to this?

There is alot of fees when it comes to registering a new motorcycle so I am just trying to ease her financial burden.

Thanks in advance.

 

[hedo2002]

So my girlfriend is buying a motorcycle from a friend of ours. Essentially the sale price is what we want it to be. Now its my understanding that there is no formal taxation mandate on motorcycles as there is on cars.

If our friend writes a receipt for x amount for sale of the motorcycle , would there be any complications to this?

There is alot of fees when it comes to registering a new motorcycle so I am just trying to ease her financial burden.

Thanks in advance.

Yes the Taxman will come over and kick her door and demand the proper taxes be paid..lol

Ok seriously, You can put down $1 if you like, but they "may" question that if it say a 2014 GSXR 1000.

As long as the seller and buyer agree to the sale price submitted to the MTO then that is that.

 

[Joots]

If you put down an unreasonably low value, like $1, if the person cares, they will just look up the bluebook value of the bike and charge you the tax on that.

 

[krrakt]

I just sold a bike to a friend and gave him a receipt for $100. No questions asked and he paid 13 bucks tax at the MTO.

 

[Iceman]

If you put down an unreasonably low value, like $1, if the person cares, they will just look up the bluebook value of the bike and charge you the tax on that.

Not at Service Ontario they won't. Lol

 

[GateKeeper]

she traded her snowblower for their bike, done deal

 

[ZX600]

There is no blue book value for motorcycles.
The MTO will send the seller and buyer a letter asking for the price agreed and the two must respond the same thing, I never replied to the letter and never had any issues.

If you put down an unreasonably low value, like $1, if the person cares, they will just look up the bluebook value of the bike and charge you the tax on that.

 

[Riceburner]

Toss the letters.

 

[inreb]

Toss the letters.

+1 and well said. I've done that and boy oh boy does it ever feel good to stick it to the MAN. Spent the rest of the evening spinning Sex Pistols and The Clash.

 

[Baggsy]

Yes, you can cheat on your taxes.

 

[BusaBob]

If you put down an unreasonably low value, like $1, if the person cares, they will just look up the bluebook value of the bike and charge you the tax on that.

That may apply for cars, but there is no such book value for motorcycles and so it cannot happen.

The cost is what both parties agree the cost to be. The tax people will call or send a letter to both parties to confirm the price declared was the price agreed to.

 

[caboose56]

For the last three trailers and two bikes I have registered I think I have paid $50 total in tax.


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[krrakt]

Not at Service Ontario they won't. Lol

That's exactly where he did it, Canadian tire at leslie and lakeshore.
They wont do it for a car but a bike no problem. They don't know if it is wrecked and needs work or what its worth just by looking at the ownership.
I'm saying that he showed them my receipt for a hundred bucks and paid the tax on that just 2 weeks ago. Are you saying I'm lying??

 

[Iceman]

That's exactly where he did it, Canadian tire at leslie and lakeshore.
They wont do it for a car but a bike no problem. They don't know if it is wrecked and needs work or what its worth just by looking at the ownership.
I'm saying that he showed them my receipt for a hundred bucks and paid the tax on that just 2 weeks ago. Are you saying I'm lying??

Did you notice that I quoted "Joots", and then responded to his post? At no point was I referring to anything you said, or calling you a liar.

 

[inreb]

Did you notice that I quoted "Joots", and then responded to his post? At no point was I referring to anything you said, or calling you a liar.

Are you calling me a liar?

 

[Riceburner]

pants on fire...

 

[Iceman]

They have creme for that. And no, I didn't call anyone a liar.
Now get offa my lawn.

 

[Touchit]

They have creme for that. And no, I didn't call anyone a liar.
Now get offa my lawn.

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