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Nov 15, 2024 · B.C.'s Provincial Sales Tax (PST) generally applies to a vehicle that is acquired in B.C. or imported into B.C. after March 31, 2013. Tax on privately acquired vehicles in B.C. If you purchase a vehicle in a private sale or receive it as a gift in certain circumstances, you must pay PST on the purchase or gift.
Nov 25, 2022 · A new rule means people buying cars in private sales are paying taxes on the list value of used cars, as opposed to the actual sales cost. Government says regulation change brings B.C. in line ...
- Average Wholesale Value
- Who can determine the appraised value of a motor vehicle
- Motor Vehicles Not Subject to the New Valuation Rules
Under the new rules, the average wholesale value of a motor vehicle, for the purpose of calculating PST due, is determined using the Canadian Black Book valuation guide. The guide lists the average wholesale value of motor vehicles by year, make, model and trim. This average wholesale value will be compared to the price paid for the motor vehicle a...
The appraised retail value of a motor vehicle can be determined by: a motor dealer registered under the British Columbia Motor Dealer Act, a person authorized under the law of another jurisdiction to carry on business in that jurisdiction in a manner similar to a motor dealer under the Motor Dealer Act, or a person whose business it is to apprais...
The new valuation 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 an...
An applicable tax means any of the following: • PST, • social service tax (SST) - the former B .C provincial sales tax that was in effect before July 1, 2010, • tax on designated property (TDP) - the former 12% B .C tax on private sales of vehicles, boats or aircraft that was in effect from July 1, 2010 to March 31, 2013,
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Tax on a used car in a private sale In a private sale, you’ll only have to pay PST on the purchase. But there’s a catch: Even though you’re not paying GST, the PST rate is higher on privately sold vehicles in BC, as a way of essentially making up the difference from the missing GST.
Collects HST (harmonized sales tax) only: Newfoundland &Labrador, Prince Edward Island, Nova Scotia, New Brunswick 15%; Ontario 13%. Collects both GST + PST:
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Nov 4, 2024 · * The provincial car sales tax on passenger vehicles sold privately in BC ranges between 12% and 20%, depending on the purchase price. ** Used cars purchased privately in Saskatchewan with a purchase price of $5,000 or less are exempt from PST. Car Sales Tax for New and Used Cars in Canada
