GEM-CAR FAQ
Sale of a Car to a Private Individual and Sale Through a Dealer
You can choose to sell your car to the buyer of your choice through the dealer who sells you your new car.
This transaction is called an "accommodation sale" or, incorrectly, an “accommodation sale”.
Advantages of an accommodation sale
Often, an accommodation sale allows you to reduce the amount of taxes you have to pay on your new automobile.
The purchaser of your automobile, on the other hand, will have to pay the GST and QST (usually, in a sale between 2 individuals, the purchaser pays only the QST).
Example of an accommodation sale
You buy a new car for $22,000.
You sell your old car to the buyer of your choice for $8,000.
You'll have to pay taxes on the difference between the two amounts, i.e. $14,000.
Posted 1 month agoby Bianca da Silveira De Amorim
#200213 viewsEdited 1 month ago