If you purchase a vehicle as part of a private sale or receive it as a gift in certain circumstances, you will have to pay pst for the purchase or gift. PST is usually payable at the time of vehicle registration with your Autoplan broker. However, if you delay the registration of the vehicle, you may have to pay pst directly to the Department of Finance B.C. Only a donation of a private vehicle between related persons is eligible for the exemption within 12 months. Pst applies to all future donations of this vehicle within 12 months. The only exception is when a gift vehicle is returned from the recipient to the donor. If you arrange payment for the vehicle, you and the seller must complete a transfer/tax form and sign it in full (electronic signatures are not accepted). Then return the completed transfer/tax forms and vehicle registration signed by the seller to an Autoplan broker. You can complete the ownership transfer transaction in the broker`s office. To receive the vehicle as a gift, the ICBC Auto Plan Donor Form must be completed and signed by both parties. This is kept by the new owner, just in case they need to be checked to show that the new owner has proof that it is really a gift. Autoplan requires that a direct relationship for the donation of a vehicle be exempt from PST. This would apply to relationships such as the spouse, children, siblings, parents, grandparents or grandchildren of the vehicle owner.
ICBC Autoplan does not allow you to donate vehicles with relationships such as niece, nephew, aunt, uncle, foster child, cousins or brother or sister-in-law. If you are not aware that this is one of the approved options, it is best to call an ICBC Autoplan agent to confirm that there is a PST exception if the vehicle is to be donated. If you buy or import a vehicle or give away or receive a vehicle, provincial sales tax may apply and exceptions may apply. Learn more in English, Chinese or Punjabi. This is one of the few exemptions from not paying tax on a newly transferred ICBC Autoplan vehicle. In most other cases, the TRP must be submitted. You should know that some people may try to sell water-damaged vehicles at great prices. Some water-damaged vehicles cannot be registered for road traffic. The overall PST rate for private vehicle sales and vehicle gifts is 12%. However, the PST rate varies depending on whether the vehicle is a passenger car and the value of the vehicle.
A vehicle history report can tell you a lot about a car you want to buy, for example. B if it has been damaged or stolen. In addition to handing over the keys, buyers and sellers of a vehicle must take these steps to transfer ownership. You can drive your “new” vehicle with the license plates of your old vehicle for 10 days from the date of purchase if all these conditions are met: if you have any further questions, talk to your Autoplan broker or read the Motor Vehicle Tax Bulletin B.C. Government. When transferring a vehicle within the province of British Columbia, the tax must be paid. ICBC Autoplan requires that the TRP be paid for a vehicle when it is transferred between two people or a company. The tax may be levied if the vehicle is transferred between directly related persons that apply only to certain relationships defined by ICBC Autoplan. B.C. Provincial sales tax (PST) generally applies to a vehicle purchased from B.C. or imported from B.C.
after March 31, 2013. Detect signs of problems by following our inspection checklist. If you are serious about the vehicle, we strongly recommend that you have it inspected by a professional mechanic. Inflated prices, hidden damage, mechanical problems, privileges, impulse purchases – we have all heard the horror stories. But buying a used car doesn`t have to be like that. If you follow our recommended steps, you can get a great vehicle at a reasonable price. For more information, see the Vehicle Treasury Bulletin, which includes information on whether a gift of a vehicle is taxable, PST exemptions for vehicles, and how to claim a refund. In the event of any discrepancy between the information presented here and in the bulletin, the information contained in the bulletin shall prevail. Please note that neither ICBC nor Autoplan Broker can refund any taxes. From a tax point of view, a passenger car is defined as a motor vehicle intended primarily to serve as a means of transport for natural persons. For example, trucks and vans larger than three-quarters of a ton, motorhomes, motorhomes, buses and motorcycles with engines of 250 cc or less are not passenger cars. A completed transfer/tax form.
(You can get a blank form at the broker`s office.) Due to COVID-19, the Transfer/Tax Form (APV9T) is temporarily available for download; Please note that original signatures are still required. When you buy from an authorized reseller and seller, you get certain protections. Learn about the responsibilities of car dealers and get tips on how to identify an unlicensed dealer posing as a private seller: Vehicle Sales Authority of British Columbia. Vehicles with “proportionate” and “restricted” license plates are not eligible for this 10-day grace period. Fill out the buyer`s part of the transfer/tax form (APV9T) and sign it in full. Due to COVID-19, the Transfer/Tax Form (APV9T) is temporarily available for download. Each of the four pages must have original signatures – electronic signatures are not accepted. If you have any questions, please contact your Autoplan broker or contact the Ministry of Finance at 1-877-388-4440 (toll-free) or [email protected].
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