| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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09-03-2016, 08:24 PM
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#1 | | Diagonally parked in a parallel universe
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| 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.
Last edited by E-SPEC; 09-03-2016 at 08:30 PM.
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09-03-2016, 09:01 PM
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#2 | | I contribute to threads in the offtopic forum
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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.  | |
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09-03-2016, 09:03 PM
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#3 | | Proud to be called a RS Regular!
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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.
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09-03-2016, 09:04 PM
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#4 | | RS.net, helping ugly ppl have sex since 2001
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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
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09-03-2016, 09:08 PM
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#5 | | Not a mod
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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
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09-03-2016, 09:19 PM
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#6 | | Diagonally parked in a parallel universe
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Thmx
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09-03-2016, 09:56 PM
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#7 | | Banned By Establishment
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The Autoplan broker should have this form for you to fill out http://www.sbr.gov.bc.ca/documents_l...s/0319fill.pdf
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09-03-2016, 11:19 PM
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#8 | | Diagonally parked in a parallel universe
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I've got it. Thnx
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09-04-2016, 03:53 AM
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#9 | | Where's my RS Christmas Lobster?!
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I once put $20 for a E21 BMW Lol. It "didn't run".
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09-04-2016, 04:07 AM
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#10 | | I WANT MY 10 YEARS BACK FROM RS.net!
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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.
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09-04-2016, 08:53 AM
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#11 | | I'm invisible
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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.
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09-04-2016, 10:11 AM
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#12 | | MiX iT Up!
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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.
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09-04-2016, 11:43 AM
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#13 | | Performance Moderator
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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.
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