Paying tax on a used boat at ICBC WTF????

[pescador]

You have 90 days to submit the taxes to BC tax officials. BC is advised by DOT of all new boat registrations and transfers. It will take 18 months for them to catch you, but, they will. There is an online form you complete and you need to include a copy of your bill of sale. Service Canada no longer does it in BC. I just dealt with this last week and did the research. There's no escaping it. In my case ICBC only collected HST for the trailer value. They did not ask for payment on boat value. That as stated above was mailed to Victoria I think it was the Ministry of Finance.

 

[TelStar26]

You have 90 days to submit the taxes to BC tax officials. BC is advised by DOT of all new boat registrations and transfers. It will take 18 months for them to catch you, but, they will. There is an online form you complete and you need to include a copy of your bill of sale. Service Canada no longer does it in BC. I just dealt with this last week and did the research. There's no escaping it. In my case ICBC only collected HST for the trailer value. They did not ask for payment on boat value. That as stated above was mailed to Victoria I think it was the Ministry of Finance.

18 months ah....... Couple months ago I got all my paperwork from a boat a recieved about 5 years ago. At the time he filled out a auto gift letter. I just sent in all the old forums and gift letters. When they sent me back the new papers with the boat in my name, I figured I was clear!
I also Got the paperwork for a small lake boat put into my name and never included the bill of sale, I got the papers back and assumed it was all good....So foolish! I have a feeling Im getting some hefty bills in the future. I guess I should start keeping an eye out for boats for sale of similar value when they tell me my 500 boat is worth 5 grand!
Bummers........

 

[Jencourt]

OK! I admit I can be a little "THICK" sometimes.but this thread has me confused now.

Wen we bought the boat last year in May the insurance collected the tax on the trailer at the time of transfer and licensing. I then did the paperwork for the boat online,printed it and sent back east. A few weeks later I got the new vessel license in the mail. I was of the understanding the province would be sending me a bill for the tax on the boat and I would pay it at that time?

Am I supposed to have gone elsewhere and payed the taxes ( If so where ? ) or am I to wait for a bill from the province to arrive?

Another buddy is in the same situation as me as he bought around the same time as I did.

Thanks: Ray

 

[GLG]

Wait for the "bill" it might just get lost in their paperwork ping pong.

Seems odd that a boat that is sold many times in it's life needs to have taxes paid over and over again.
You would think that when it was new the taxes would be paid and that would be it.
No the tax man likes us to pay over and over so he has more money to send on his pet project.
These guys sure can spend other peoples money.
GLG

 

[fshnfnatic]

I've thought the same thing many times myself, GLG. The next thing you know,we'll have to pay taxes on stuff that you
buy at a garage sale! What a pile of crap!!!

 

[casper5280]

Just got mine at the beginning of the week for a boat that I bought about 2 years ago. Phoned to find out what it was all about and they said that it was the second letter that was sent to me. I told them that I had never received a letter and this was the first I had heard about it. They said that the boat was worth X amount of dollars witch is way more then what I paid for it, and that I would have to pay taxes on that amount unless I could prove otherwise ie.(bill of sale) and that it must be paid in full within 30 days. To add insult to injury if the boat was bought before July 2010 you pay 7% and if after you pay 12% of course I bought mine in August 2010.

 

[GLG]

2 years interest free tax bill how nice of them.
Yea I'm still waiting for one myself.
GLG

 

[pescador]

So, the Ministry of Finance of BC is wise to people buying boats. I have experience with this, believe me, they will come after you if you register the boat through the DOT back East, which you should/must do at some point. Legally, you have to do it within 90 days of purchase. When you do this, they know everything about you. DOT advises all provinces of boats registered within x months. The provinces simple go after purchasers seeking the HST or PST, depending where you are, and, I assume will assess a tax in the absence of you submitting within the 90 days. I would suggest you submit the tax in advance of them coming to you. You are required to provide a copy of your bill of sale. Here's a link to the BC Ministry of Finance form FIN315/WEB that you complete, include copy of your bill of sale, mail off to Victoria. http://www.sbr.gov.bc.ca/documents_library/forms/0315FILL.pdf I do not work for the prov gov nor seek to see anybody pay any more tax. Not paying may be more painful in the long run than paying up front. Sage words from someone with experience.....

 

[casper5280]

2 years interest free tax bill how nice of them.
Yea I'm still waiting for one myself.
GLG

Ya how nice of them. I had to laugh when they told me the value of my boat that they were going to tax me for. I have put a totally full new electronic package that is redo-nit, new kicker with forward controls, re-wired the whole boat, redid the interior and rebuilt the leg and cooling system. All this work was done by myself and there value is more then what I have in to the boat. This boat is 37 years old. Almost 3 times more and they say this is current market value. Sure wish I knew where that market was. Thank God I was able to find the bill of sale.

 

[casper5280]

So, the Ministry of Finance of BC is wise to people buying boats. I have experience with this, believe me, they will come after you if you register the boat through the DOT back East, which you should/must do at some point. Legally, you have to do it within 90 days of purchase. When you do this, they know everything about you. DOT advises all provinces of boats registered within x months. The provinces simple go after purchasers seeking the HST or PST, depending where you are, and, I assume will assess a tax in the absence of you submitting within the 90 days. I would suggest you submit the tax in advance of them coming to you. You are required to provide a copy of your bill of sale. Here's a link to the BC Ministry of Finance form FIN315/WEB that you complete, include copy of your bill of sale, mail off to Victoria. http://www.sbr.gov.bc.ca/documents_library/forms/0315FILL.pdf I do not work for the prov gov nor seek to see anybody pay any more tax. Not paying may be more painful in the long run than paying up front. Sage words from someone with experience.....

I registered the boat the day I bought it right at the Victoria office. I was not trying to hide anything, and was never told that I had to pay taxes on it. I then went and bought insurance and was told I needed a survey done on the boat lucky for me the guy I bought it from gave me the survey he had done on it. The insurance company excepted the survey and insured the boat and never asked for taxes. I renewed my insurance again in August 2011 and again never was asked for taxes. I also registered for my MMSI# in February in the Victoria office and was never asked for taxes. All this time I just figured that I didn't have to pay tax on a used boat, I never ever tried to hide anything and was doing everything by the book and as fast as was needed. Funny how I did everything in a timely matter and it has taken them almost 2 years to get there $hit together and they give me 30 days. Gotta love the way the government works or in this case the way it doesn't work.

 

[Whaase]

What if you were givin a boat/trailer? I recently got one. We haven't transferred any information over yet.

 

[leftcoast]

Has anyone on here asked for 3 bills of sale: one for the trailer, one for the hull, and one for the motor? I'm thinking if you did this maybe you would only have to pay tax on the boat and trailer. What do you think?

 

[trophywife]

i always buy my boats "hull only" if that helps

 

[fish stalker]

so how did the guy who got it gifted go? any bills show up? They cant say it wasnt.


Just wondering what to do with my new one. The guy is willing to put what ever amount I wish for the purchase price, even a gift letter. Sorry but paying repeated tax on used item is bull. Should I go gift letter or a low amount...? Any thoughts




No worries figured it out!

 

[tinboatrobb]

I am fairly sure that you can no longer "gift" some one a motor vehicle with out taxes being paid. That is new as of a few months back. I would think it covers trailers, boats etc. Maybe this can be confirmed.

 

[Downwind]

I am fairly sure that you can no longer "gift" some one a motor vehicle with out taxes being paid. That is new as of a few months back. I would think it covers trailers, boats etc. Maybe this can be confirmed.

Unless its family. There are some fees still but a lot less then the full pull taxes.

 

[fish stalker]

yup the insurance lady was saying something about family. thats pretty bull people really do get gifted vehicles. The lady at transport canada said there is no monetary value on the boat and just to right up a transfer of ownership letter. I think the issue would come if it was a very expensive boat and you went to insure it then something might come up on the value. The value of the trailer is anougher issue. I got a hell of a deal

 

[black dog]

$250.00 If I am not mistaken.

 

[fish stalker]

$250.00 If I am not mistaken.

to transfer a trailer that may be worth less!? i hope not.

 

[blink2u4i]

the gift letter would work for the trailer,but gets a little "fishy" if your getting a gift from a stranger,ok from a family member.When I buy a boat /trailer ,I fill the transfer papers for the trailer ,with a price ,just for the trailer,lower price if it's an older trailer ,or needs work etc.Then I get the seller to write a bill of sale for the boat,again ,fudging the price abit ,or alot,that is sent off with the forms for the boat reg ,that is sent to Ontario.If you really hate paying tax,you can get a bill of sale for a boat hull only,you will still get a reg number for the hull !