The province is estimating a $30-million uptick in revenue by using wholesale book values for determining PST on used car sales.
The B.C. government says it will generate an estimate $30 million annually with a new policy to more vigorously tax used car sales.
Beforehand, one could theoretically under declare a sale price in order to evade part of the provincial sales tax , particularly in a cash transaction. This, said car appraiser Carey Scarrow, could lead to an uptick in British Columbians having their cars appraised at a lower value for the purpose of a sale.
“We’ve had some inquiries at the start of the week and I’d expect more to come,” said Scarrow of Coast Auto Appraisals.
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