Tax charges in QC for for car trade
04-16-2011, 05:50 PM
#1
6th Gear
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Tax charges in QC for for car trade
Hey guys,
I was wondering, I might be looking to trade my Cayenne for another car plus cash, possibly a boxster for summer.
However, I have heard that if you trade car for car in Quebec, you only pay taxes on the difference in the prices of both cars? Can anyone confirm this?
I was wondering, I might be looking to trade my Cayenne for another car plus cash, possibly a boxster for summer.
However, I have heard that if you trade car for car in Quebec, you only pay taxes on the difference in the prices of both cars? Can anyone confirm this?
04-17-2011, 09:10 AM
#2
The V8 Porschephile
Rennlist Member
Rennlist Member
Yes, if you trade your Cayenne in for another vehicle at a dealer or any commercial used car lot, you will pay the difference between the two in federal and provincial taxes.
If you find an individual to trade with you on a personal basis, you will only pay the difference on the provincial tax as there is no GST collected in a non-commercial sale.
If you find an individual to trade with you on a personal basis, you will only pay the difference on the provincial tax as there is no GST collected in a non-commercial sale.
