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BC car luxury tax eliminated with introduction of the HST
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06-09-2010, 11:26 PM | #1 |
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BC car luxury tax eliminated with introduction of the HST
As most BC members know, there was an additional 3% PST tax on new vehicles costing over $55k. Total tax was PST + GST + 3% = 15%. This was known as the car luxury tax. With the introduction of the HST on July 1, the luxury tax has been eliminated. Total tax payable on any new vehicle regardless of price will be 12%.
For those of you taking possession of new cars in BC in the next few weeks you may want to hold off until after July 1. On the other hand, the full HST will apply to private used car purchases. Previously it was GST only. |
06-10-2010, 12:36 AM | #2 |
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so thats 12% HST inclusive?
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06-10-2010, 11:08 AM | #4 |
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Or alternatively, you can go to Washington state and have no sales tax on the purchase from there. Apparently state legislation says that the HST is not a sales tax but rather a "value added tax" which means the usual state tax they charge (I think 6.1%) is waived for out of state residents. There's an article out on this a couple days ago online... I know cuz Ontario's doing the same thing and doing HST so if I want to hustle over to Washington, we're apparently exempt from their sales tax too.
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06-10-2010, 12:08 PM | #5 |
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do we pay 12% HST on used car in BC too?
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06-10-2010, 01:37 PM | #6 | |
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06-10-2010, 01:37 PM | #7 |
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06-10-2010, 02:23 PM | #9 | |
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06-11-2010, 05:50 AM | #10 | |
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With the dollar right now, I'd go shopping to save big bucks on clothes. |
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01-08-2013, 06:01 PM | #11 |
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The PST is coming back starting April 1, 2013. The BC luxury car tax is also coming back unfortunately.
GST + PST + 3% = 15% on car purchases over $55k. If you trade in and can get the net cost below $55k you can avoid the luxury tax. If anyone is planning on buying in the next while, you can save 3% if you buy before April 1. http://www.pstinbc.ca/moving-forward/faqs/ |
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01-08-2013, 08:15 PM | #12 | |
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If you own a company, register the car threw your company and you can get the HST back. |
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