12% on $1200 = $144
12% on $4000 = $480
Difference is $336

It’s the principle, but I’m pretty sure that it’s not worth the time and expense to fight $350. At the end, buyer/seller lose money.

^^ so are you gonna round up your income and property tax to the next thousand?:suspicious:

I’m not saying I agree with the new policy. However, time is money. Why spend $200-250 (my guess) for an appraisal when the taxes owed is $350? Move on and make money elsewhere.

Sounds like a sick new business idea, since the appraisals can be done remotely.

Dont know what it takes to get registered as an appraiser. But seems like easy money. Get the person to take some pictures of the car, list the issues, etc. Boom appraisal done.

Post your services on here, and a couple places on FB, and bet you will have lots of people lined up for your services.

icbc can kbb my write off

:lol

oh wait... I drive old ass rovers now so lets bae it off BaT prices

^^ I honestly don't know how ICBC values cars, I see $3000 to $6000 cars get into $4000 accidents and they still get fixed, clean title :fulloffuck: not sure if it's cuz it's still cheaper to fix than payout

ICBC values cars VERY high right now. They will fix almost anything atm.

We managed to write off the 4k rebuilt Z4 and got 7k.

Someone is on it already

https://www.dealteamsix.ca/?gclid=Cj...4aAgU5EALw_wcB

$100 a pop, however I wonder how they prove they are legit.

My manager did an appraisal yesterday as a favour for someone, obviously we have all the licenses to validate that appraisal. (business license, wholesae, VSA, dealer etc etc)

Is ICBC looking for that "appraisal form FIN-20"? I can't find the form online.

Sent

I was rear-ended at a red light recently. Car is likely a write-off as it's an 09. Am I to understand that when ICBC cuts me a cheque for their perceived value of my car, I will then go purchase a used replacement vehicle, and ICBC will substantially ding me on what I end up buying?

Yes and no.

ICBC will value your car based on blue book pricing, plus they'll add PST/GST. They'll pay you out accordingly.

Now if you choose to buy a replacement vehicle, you will have to pay PST on the purchase, which goes to the provincial government. The PST for your replacement car is calculated using blue book pricing, not the actual price negotiated.

So depending on how much you get for the write-off, and what kind of replacement car you buy, and how much you pay for it, it's too early to say if you'll get substantially dinged or not.

as opposed to what?

you would always have paid tax on your replacement vehicle (old or new system)

so what happens when i gift my cars to family or friends for free? they have to pay tax? that's ridiculous. I transfer my cars between my family all the time when I don't need them so they can buy insurance.

Friend recently bought a car privately last week and he paid $5k more than the ICBC black book value so ICBC charged him PST based on the higher amount that he paid

obviously on a private sale you would find out in advance what the black book amount is and try to declare the selling price to be that exact amount. unless the seller is a dik this is a no brainer.


unless your family were these people, you haven't been able to do what you're doing for years. all the power to you - but it's been this way for ages.

you couldn't gift a car to a friend for free and pay no tax, even before this most recent change

is there still a close family exemption under the new system? I don't know. the forms continued existence on the gov website implies that it is still a thing.

i believe its family only.

https://www2.gov.bc.ca/assets/gov/ta...ft-vehicle.pdf

“Related individual” means:
(a) a person’s spouse (legally married or living for
a continuous period of at least 2 years with another
person in a marriage-like relationship), child, grandchild,
greatgrandchild, parent, grandparent, greatgrandparent,
or sibling, or
(b) the spouse of a person’s child, grandchild or great
grandchild, or
(c) the child, parent, grandparent or greatgrandparent of
a person’s spouse.

Yup - About the pull the trigger on something and after emailing the consent thing into them they were able to provide me the BB value... which I will be... coordinating... to produce a more favorable outcome for me financially....

So basically... this is EXACTLY like the old system. In this situation. lol.

Well there's one more phone call, and not all cars sell for $1000 anymore:pokerface::awwyeah::lawl:

So, what courses/licences/certificates do you need to be an appraiser? I'm really interested in doing this as part time gig.

Thanks

Blood related family only, is what an autoplan agent told me. My FIL wants to give us 1 of his cars. Gifting it to my wife will bypass the new tax rules but really I'll probably drive it mostly.

Stupid ass icbc.

If I was feeling generous after winning the lottery and decided to gift trollface a golf R, I can’t even do that without him having to pay the tax on the golf r ?!? What horseshit is this!? I might as well move back to communist China

Speaking of car tax

/ Not Canada

I just picked up a car in NZ, was expecting to pay 300$ on 2500$.
Transfer tax was 9$ :awwyeah:

Then I went to get insurance, expecting like 1500$ per year for basic
Was 182$ for 12 months, if I wanted full coverage 600$, I had to ask the lady a second time to confirm the numbers :derp:

Then I went to get gas, everything else was 75-90% cheaper than Vancouver, so my brain automatically assumed gas would be cheap too.
2.70$ for regular :drunk: