New ICBC Tax on Private Sales

[k3mps]

Just a reminder to all...

New Tax rules for private sales kick in October 1.

Tax will be calculated on deemed worth of vehicle instead of sale price.

https://vancouverisland.ctvnews.ca/b...itic-1.5819761

[Badhobz]

Fuck you icbc. Fuck you right in the cunt.

[JDMDreams]

So how do we know the value? How are they able to commie us like that?

[Mikoyan]

As much as I dislike ICBC, isn't this on the provincial Government as it's a PST issue?

I guess too many people underdeclared the sales price.

[JDMDreams]

Yea but what happens if person x can't afford the tax. Their $10000 car is now worth $20000 according to the government. How do I buy a car if I don't know what the total cost is. An integra type r is a 20 year old pos so it's only worth $3000 in taxes? even though I paid $20000?

[Traum]

If the province is gonna do it like this, I think the least they can do is to make those average value figures publicly available so that the public is never kept in the dark on what they can expect to get taxed on.

[Spoon]

Anyone know a shady mechanic?

[Dbone]

Correct me if I'm wrong, but the idea of this tax is to punish private sales and force us to handover money to the politically donating class by using their dealers.
The value of our trade-in is reduced from the sale price, thus 'saving' us sales tax on the new car.

If ICBC told us the number, then we could turn around and claim that when trading in a car right?

No way the government of BC would want that kind of level playing field.

[68style]

I mean, they had this system in place already to determine if you were claiming under market value on your purchase.

They're just eliminating your ability to lie about it now............

In some cases it might work in your favour, in others not...

However, before they were just using KBB for this... so if you want to know, just go on KBB and put in the vehicle and private sale, you should have a reasonable approximation based on that.

[donk.]

Looks like all my future car purchases are going to have a couple fuses pulled prior to dropping it off at the mechanic

[The Producer]

Originally Posted by JDMDreams

So how do we know the value? How are they able to commie us like that?

this says they're using black book

https://www2.gov.bc.ca/assets/gov/ta...ide-canada.pdf

https://www.canadianblackbook.com/value-your-vehicle/

now I want to know how to get the black book values without having to give all my contact info.

might have to setup some dummy emails just to do this (and phone number? fuck). I know these guys will sell my data


EDIT: not even trying to hide it - and you have to verify your phone number. Tofu? are there any backdoors into this site? offline blackbook?

Picture1 by GhstRidr, on Flickr

[freakshow]

not trying to be an ICBC defender, but the CBB value will be the trade in value. So for most people (maybe not on this forum), wouldn't that actually be lower than their probable purchase price?

[mikemhg]

We shouldn't be taxing used car sales in the first place.

[The Producer]

no - it won't be lower than the price everyone declares on private used vehicle purchases

this has nothing to do w trade ins (besides using that value as a metric) this is about busting private vehicle deals that get put through below market for tax savings.

Originally Posted by mikemhg

We shouldn't be taxing used car sales in the first place.

easily my biggest pet peeve. closely followed by spam calls

[68style]

Originally Posted by donk.

Looks like all my future car purchases are going to have a couple fuses pulled prior to dropping it off at the mechanic

Condition and why the amount is lower is not longer a factor.

[underscore]

So it just fucks over poor people who can only afford a more beat up car with some flaws.

[donk.]

"poor people in vancouver"

[G0rilla]

No more paying for cars with cash

[JDMDreams]

How do you value JDM cars then?

[The Producer]

Originally Posted by JDMDreams

How do you value JDM cars then?

did you read the white sheet I posted?

The new purchase price rules for motor vehicles do not apply to all motor vehicles.
The following types of vehicles are not subject to the new rules:
 Motor vehicles where the average wholesale value cannot be determined (e.g.
the average wholesale value of the motor vehicle is not listed in the Canadian
Black Book valuation guide by year, make, model and trim)

if you can't find the car in the book - the new rule doesn't apply.

this seems like a possible loophole

[immorality]

Originally Posted by donk.

"poor people in vancouver"

I think the amount of people that live here and are "struggling" is probably staggering.

[k3mps]

Originally Posted by Traum

If the province is gonna do it like this, I think the least they can do is to make those average value figures publicly available so that the public is never kept in the dark on what they can expect to get taxed on.

100% agree.

I honestly forgot about this kicking in... I'm surprised there isn't more focus on this these days. I couldn't find anything posted on this subject from ICBC or P.BC

[teggy604]

Originally Posted by The Producer

did you read the white sheet I posted?


if you can't find the car in the book - the new rule doesn't apply.

this seems like a possible loophole

I dont think they care too much for the older cars. Majority of the cars will be in the book. I think the book goes back 10 yrs?

[meme405]

Originally Posted by underscore

So it just fucks over poor people who can only afford a more beat up car with some flaws.

This is what I dont understand.

You buy a car with a blown motor for example, and you get to pay taxes on it as if it was a perfectly operating vehicle?

What about salvage titles, etc.

This makes no fucking sense. Fuck you ICBC, you just start getting your feet back under you then you go and do this.

[68style]

lol it isn’t ICBC

What does PST stand for?