Critics slam tax changes on private sale of used vehicles in B.C.
PRINCE GEORGE – If you’re planning to find a vehicle to buy privately in British Columbia, you may have to pay more in taxes than you were initially expecting.
In new legislation now in effect, the province will decide what the vehicle you are buying privately is worth for tax purposes. For example, you may purchase a vehicle at $3000, although the value of the vehicle may be assessed at $3500, the assessed value would be the taxable one over the negotiated price.
How the province will determine what used vehicles are worth is still a work in progress, the system is expected to be fully active in October.