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Some variation on the Montana luxury scheme should work: set up a company in Alberta which buys and registers the car as well as pays the insurance. I'm not a tax or corporate lawyer but the $$ involved should make it worthwhile so long as it's legal.
The issue here is the risk of the insurer voiding the policy in the event of an accident in BC and them determining you're not actually an Alberta resident. I've heard of this happening from more than one person.
I still believe that private transactions should be applicable for purposes of reducing the tax payable. If I sell a vehicle that was refistered in BC, then I should have a period of time to purchase a new one and apply for a PST refund. Same goes for if I buy the car first and sell soon after.
Otherwise, the government is only providing an incentive for dealers to reduce the value of trade-ins, thereby favouring their business model over private sales.
This would have a secondary effect of encouraging people to honestly report sale prices on private transactions.
I still believe that private transactions should be applicable for purposes of reducing the tax payable. If I sell a vehicle that was refistered in BC, then I should have a period of time to purchase a new one and apply for a PST refund. Same goes for if I buy the car first and sell soon after.
Otherwise, the government is only providing an incentive for dealers to reduce the value of trade-ins, thereby favouring their business model over private sales.
This would have a secondary effect of encouraging people to honestly report sale prices on private transactions.
100% agree, but the dealer lobby wouldn't like that. Unlikely for the government to make a change that will 1) reduce tax income, 2) **** of a prominent industry group, and 3) only significantly benefit the small segment of the population that tends to buy and sell relatively expensive vehicles privately.
Edit: at least you can often work around it somewhat when buying from a dealership, by lining up a private buyer for your trade, and running the transaction through the dealer as a trade-in, for a small cut. Doesn't help if both purchase and sale are private party though.
Lets just tax the hell out of the luxury sector which generates jobs and tons of money in taxes already.
There's an aspect to the problem you're missing here. If less money gets spent on these specific luxuries, none of which are made in Canada, what happens to that money instead? Will it just get spent/invested somewhere else? Maybe in Canada instead of shipping them off to Stuttgart?
You bought a 140k car that you probably pay 3k/year to insure, 3k/year in maintenance/tires and maybe 10k/y in depreciation and is one of the most unique driving experiences you can get, and you're worried about 20-30c/km in fuel costs (which are what, 50% higher than when you started)? That's crazy dude. I don't think you're cut out for P-car ownership. Your complaints clearly lack perspective on the big picture. If the car makes you so unhappy, you should sell it and use the proceeds to find some real joy in life. Every litre in your tank is a few minutes you got to enjoy this very special and exclusive car, not an attack from some sinister outside force.
Sell me your car, and I'll help you find a nice, efficient Corolla. They are more practical than a GT4 and I hear they have standard lane keep assist now.
You bought a 140k car that you probably pay 3k/year to insure, 3k/year in maintenance/tires and maybe 10k/y in depreciation and is one of the most unique driving experiences you can get, and you're worried about 20-30c/km in fuel costs (which are what, 50% higher than when you started)? That's crazy dude. I don't think you're cut out for P-car ownership. Your complaints clearly lack perspective on the big picture. If the car makes you so unhappy, you should sell it and use the proceeds to find some real joy in life. Every litre in your tank is a few minutes you got to enjoy this very special and exclusive car, not an attack from some sinister outside force.
Sell me your car, and I'll help you find a nice, efficient Corolla. They are more practical than a GT4 and I hear they have standard lane keep assist now.
time to put away "rich guy" crying towels and get out your voter registration cards.
when did hatred of BC become part of this thread? perhaps the title needs to be amended.
11-01-2018, 02:55 AM
