icappraisalbc
If you just bought a car for $2,000 that barely runs, the last thing you want to hear is that the government thinks it is worth $6,000. Welcome to the world of buying a "older used car" in British Columbia. The "Average" Trap The
icappraisalbc
One of the most common questions we get is: "I am buying my uncle's car. Do I have to pay tax?" The answer is: It depends. British Columbia has specific rules for "Related Individual" transfers, and getting it wrong can be expensive. Scenario A:
icappraisalbc
If you have ever dealt with vehicle insurance or taxes in Canada, you have heard the term: "The Black Book Value." It sounds official, ominous, and final. But what actually is it? The "Canadian Black Book" (CBB) is a wholesale value guide used by dealers and
icappraisalbc
If you’ve recently bought a used car in British Columbia, or are about to, you’re likely bracing yourself for the transfer tax. But there’s a nasty surprise waiting for many private buyers: the 12% Provincial Sales Tax (PST) trap. Unlike buying from a dealership (where you pay