Gifting a vehicle and the tax bullshit.. How to
 

Long story short, my vehicle has been in my daughters mothers name since I bought it. I want it into my name once and for all. How am I suppose to go about doing the sale? Is there a way to gift it and avoid paying tax? It's been my vehicle the whole time. It's just a 2G TL. I'm thinking just to have the sale down for $1000 so te tax will be very minimal, but the car is worth more than that so I don't want problems arising as a result of that, right?We are not common law or anything or related unfortunately. Any info and help on this would be appreciated.

when it comes time to insure, write the value down to $1000. you'll get asked why you paid so little and then you say that the car has a "transmission issue". not really lying since the 2G TL does actually have trans issues. :troll:

I'm pretty sure you're daughter's mother would be considered family. And I can't see ICBC seeing anything fishy about transferring of property between family members.

Just gift it. If you say it's exactly what the situation is, your not defrauding anything and 99% of the time auto plan doesn't care

There are exemptions when transfering a vehicle and it includes family. Its just a simple matter of filling out the form and you avoid taxes altogether. There should be info on the ICBC website or talk to an Autoplan rep

Thmx

The Autoplan broker should have this form for you to fill out
http://www.sbr.gov.bc.ca/documents_l...s/0319fill.pdf

I've got it. Thnx

I once put $20 for a E21 BMW Lol. It "didn't run".

My Yamaha was declared $1000 when I actually paid $8200 to the previous owner. The insurance broker didn't bother to ask shit about it, then it was stolen 3 years later, ICBC paid me back the market price about $7000.

ICBC just collects tax on behalf of Consumer Taxation Branch (CTB) unless the customer qualifies for any tax exemptions ( i.e.: gift exemptions). If there's any weird scenarios not listed for the autoplan agent and they want a tax exemption, the customer must contact CTB direct for approval.

Anything related to premiums and the value of the vehicle for a total loss will be ICBC responsibility.

I'm pretty sure there are some provisions for spousal or ex-spousal transfer.....

but when I transfered ownership from my dad to me, all he did was fill out a form saying its being gifted to son.. taxable value is 0.00.

The form has changed since the HST came in and then left but didn't actually leave used car sales... It's much more restrictive ie: you can't gift to friends anymore, has to be a direct relative. Also there's a branch of ICBC that does nothing but audit undervalue transactions and they're not kind about it. The form looks super scary mentioning jail time and fines haha fuckers...

I personally can't believe all these years have gone by and nobody with time and/or money on their hands has challenged this tax, it's ridiculous to collect tax on a used product.