Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > Misc > Off-topic
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 12-18-2008, 05:23 PM   #1
Arash
6th Gear Member
 
Arash's Avatar
 
Join Date: Sep 2005
Location: Toronto
Posts: 2,058
MTO rant



why is it that I can't transfer a car from my brother's name to my name without paying tax, but you can do this between spouses and parents, grandparents, children and grand-children. aren't siblings considered family?

also, lets say you get a sick deal on a car for $200 from a motivated seller or you get it as a gift so you don't pay anything for it, and the red book value for the car is $4000, why is it that I have to pay tax on the red book value, while in reality, I didn't pay anything for it?

Doesn't make any sense, this is total money grab!

/end rant

Is there any way around paying this stupid tax? I'd appreciate any suggestions.
Arash is offline   Reply With Quote
Old 12-18-2008, 05:25 PM   #2
AceOfSpades
♠ ♠ ♠
 
AceOfSpades's Avatar
 
Join Date: Aug 2006
Location: Creston, Iowa
Posts: 4,171
Thats messed up. They do it because the price you mentioned was too low!
but yes, its money grab at its very best!
AceOfSpades is offline   Reply With Quote
Old 12-18-2008, 05:47 PM   #3
Boots R
Boots, not boost
 
Boots R's Avatar
 
Join Date: Jun 2006
Location: Brampton
Posts: 11,033
about the book value of the car: You have to pay tax on the VALUE of the product, not what you paid for it.
Boots R is offline   Reply With Quote
Old 12-18-2008, 05:48 PM   #4
Arash
6th Gear Member
 
Arash's Avatar
 
Join Date: Sep 2005
Location: Toronto
Posts: 2,058
Quote:
Originally Posted by AceOfSpades View Post
Thats messed up. They do it because the price you mentioned was too low!
but yes, its money grab at its very best!
yes it is. I'm going to go in there tomorrow and stir shit up! makes no sense to pay tax on something I didn't pay a penny for.
Arash is offline   Reply With Quote
Old 12-18-2008, 05:51 PM   #5
Arash
6th Gear Member
 
Arash's Avatar
 
Join Date: Sep 2005
Location: Toronto
Posts: 2,058
Quote:
Originally Posted by Boots R View Post
about the book value of the car: You have to pay tax on the VALUE of the product, not what you paid for it.
how about a gift? why do I have to pay tax on a gift?
Arash is offline   Reply With Quote
Old 12-18-2008, 05:52 PM   #6
MiroE36
6th Gear Member
 
MiroE36's Avatar
 
Join Date: Nov 2008
Location: Toronto
Posts: 1,896
MTO -1 | Your Bank Account - 0

but on a serious note, that's how they ensure that the GST is paid and collected. There would be too many people doing things through "gifting".

Believe me, the minimal GST that you pay on a used vehicle is nothing when you see how sour income taxes can be due to attributed income via "gifting".

There really is no way around it, unless you just keep the vehicle under your brothers name.
__________________
1992 325i / Briliant rot - SOLD @ 301,000km
1998 318is / Arktic silber - SOLD @ 207,000km
2007 335i / Jet Black - CURRENT @ 28,000 km

MiroE36 is offline   Reply With Quote
Old 12-18-2008, 05:55 PM   #7
Boots R
Boots, not boost
 
Boots R's Avatar
 
Join Date: Jun 2006
Location: Brampton
Posts: 11,033
Quote:
If you paid less than the Canadian Red Book value, you can get the vehicle appraised before changing ownership. If the appraisal supports a lower price then the Canadian Red Book, the buyer pays tax based on the higher value.

An appraisal or insurance document showing the vehicle's value must accompany the bill of sale.
from the MTO


Quote:
Originally Posted by Arash View Post
how about a gift? why do I have to pay tax on a gift?
I always thought you could transfer between siblings too. I'm trying to find out for sure.

edit:

Quote:
Tax exemption
You do not have to pay retail sales tax if:

You are a qualifying Diplomat or Status Indian. You can complete a transfer by showing your identity card.
You receive a vehicle as a gift from a close family member, such as:
Spouse
Parent or step-parent
Grand-parent
Son or step-son
Daughter or step-daughter
Grandson or granddaughter
Step-grandson or Step-granddaughter
Son-in-law
Daughter-in-law
Father-in-law
Mother-in-law
Note: only one tax-free transfer per vehicle is allowed every 12 months within your close family.

For some transfers, such as gifts between family members and transfers for insurance purposes, you must have a statement sworn before a Commissioner of Oaths. Present this statement when registering your new vehicle at a Driver and Vehicle Licence Issuing Office.
I don't know if "such as" means that list is exclusive, or if it means you can swap between siblings. I'd go bitch at the MTO anyways

Last edited by Boots R; 12-18-2008 at 05:59 PM.
Boots R is offline   Reply With Quote
Old 12-18-2008, 06:31 PM   #8
Arash
6th Gear Member
 
Arash's Avatar
 
Join Date: Sep 2005
Location: Toronto
Posts: 2,058
^^ you can't switch between siblings, I just got off the phone with the mto.
Arash is offline   Reply With Quote
Old 12-18-2008, 07:58 PM   #9
Axxe
Over 9 F**KING THOUSAND!!
 
Axxe's Avatar
 
Join Date: May 2004
Location: Oakville
Posts: 9,772
Simple, give it to your mother for free. Then you mother gives it to you.
__________________

S52|ZF|TRM Coilovers 670/895|Staggered 18" 5's
Axxe is offline   Reply With Quote
Old 12-18-2008, 08:13 PM   #10
BMW_7
Econobimmer Racing
 
BMW_7's Avatar
 
Join Date: Dec 2002
Location: Kiev
Posts: 8,364
Send a message via AIM to BMW_7 Send a message via MSN to BMW_7
wat? You can't do it between children/spouses/parents/grandparents either..... I had to pay tax when i transfered the car from my mom to me

If you want it to be a gift and pay no tax, you need lawyer papers. Most people don't want to deal with that so they pay the tax
__________________
Vitaliy



Helprace, a helpdesk & community platform
BMW_7 is offline   Reply With Quote
Old 12-18-2008, 11:18 PM   #11
Junaid
4th Gear Member
 
Join Date: Nov 2007
Location: Toronto
Posts: 670
i transferred my car from my name to my dad's name and didnt have to pay taxes, but ended up paying $50-$80 on bullshit charges such as a tax exempt form, and some more but i think one was a sworn statement that i was his son and was giving the car to him.
Junaid is offline   Reply With Quote
Old 12-19-2008, 12:49 AM   #12
Arash
6th Gear Member
 
Arash's Avatar
 
Join Date: Sep 2005
Location: Toronto
Posts: 2,058
Quote:
Originally Posted by Axxe View Post
Simple, give it to your mother for free. Then you mother gives it to you.
lol not so simple, only one transfer per car per family allowed per year.
Quote:
Originally Posted by BMW_7 View Post
wat? You can't do it between children/spouses/parents/grandparents either..... I had to pay tax when i transfered the car from my mom to me
no tax for children, spouses etc..
Arash is offline   Reply With Quote
Old 12-19-2008, 02:25 AM   #13
hadesm5
6th Gear Member
 
hadesm5's Avatar
 
Join Date: Jun 2006
Location: Toronto
Posts: 1,798
wtf no tax from your mother-in-law but you have to pay if its your brother... doesn't make sense
__________________
hadesm5 is offline   Reply With Quote
Old 12-19-2008, 08:33 AM   #14
Trouble65
6th Gear Member
 
Join Date: Aug 2008
Location: Niagara Region
Posts: 1,789
Quote:
Originally Posted by Arash View Post
why is it that I can't transfer a car from my brother's name to my name without paying tax, but you can do this between spouses and parents, grandparents, children and grand-children. aren't siblings considered family?

also, lets say you get a sick deal on a car for $200 from a motivated seller or you get it as a gift so you don't pay anything for it, and the red book value for the car is $4000, why is it that I have to pay tax on the red book value, while in reality, I didn't pay anything for it?

Doesn't make any sense, this is total money grab!

/end rant

Is there any way around paying this stupid tax? I'd appreciate any suggestions.
The government just want's their money.
Trouble65 is offline   Reply With Quote
Old 12-19-2008, 12:43 PM   #15
Arash
6th Gear Member
 
Arash's Avatar
 
Join Date: Sep 2005
Location: Toronto
Posts: 2,058
Quote:
Originally Posted by Trouble65 View Post
The government just want's your money.
fixed.
Arash is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 09:38 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Maxbimmer Copyright 2001 - 2015