imported_BoOsTd

If I buy a car for 100 dollers, do i have to pay tax on what the book value is ?? like is it whatever value is higher...?? If this is tru thewre must be some sort of loophole..like with tradeing or something...

anyone can help, id appretiate it, cuz im going to be getting a car for 100$ and I think its stupid that I have to pay the goverment tax on 2000$... it just seems like such a ripp off giveing them money I technically dont owe them...

punkindrublic

when i bought my car... 3 years ago... i told them i paid 3000 for it and they still made me pay tax on the lowest value in which ever book it is they use... which was like 4200 or something

imported_BoOsTd

thats dumb...I understand why, cuz everyone would claim 100$...but I really am only paying 100$ so its not fair...errrrrg

punkindrublic

what kinda car? if your buying it for 100 then it can't be worth that much anyways

imported_BoOsTd

its a 92 crown victoria... I think its worth about 2000$ in the book

Astroboy

Tax is charged on what you paid for the car or the wholesale value at the ministry (listed in the UVIP), whichever is higher. If its private sale you pay pst only. If its from a dealer you pay both taxes.

imported_dmacbo

you'll pay on the whole sale, if you pay more than the whole sale, then you pay the taxes on the retail value

imported_BoOsTd

shysty i say!!!

imported_BoOsTd

anyone know of any loop holes??

blk93si

get an appraisal

that will work , pay less taxes

on what ever they appraise at

good luck

imported_BoOsTd

sweet good idea... I wonder how much the appraisal is worth...

bbarbulo

iTrader: (2)

beware of the slipping transmission

imported_BoOsTd

how do you check for a slipping automatic?

93hatchcx

yup i did an apprasil saved me some $$$

imported_BoOsTd

how much did it cost you

93hatchcx

ummm i got it appraised for 1000 bucks when the gov't wanted to charge me 4500 those bastards, so i think i ended up paying like 40 bucks or something

noAC

when i had my first car and i was in my mother's name and i wanted the car put into my name, to get around the transfer tax we went to the local court house and signed something in front of an offical. we signed a document stating that my mother was giving me the car as a gift, so no tax had to be paid.
don't know if that will work in your situation, but FYI.

Double_B

The only way to avoid paying the pst is if the car is a gift from a family member, and I believe it had to be immediate family member....

imported_BoOsTd

^^ yah thats correct... it has to be immediate family.. rimmerr...