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