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Trade in Sales Tax Question? (Not Vehicle)

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  • Jul 15th, 2016 2:09 pm
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Sr. Member
Sep 19, 2014
505 posts
262 upvotes
Markham, ON

Trade in Sales Tax Question? (Not Vehicle)

You know when you trade in a vehicle, you basically pays HST on the difference in prices. (e.g. you trade in your $20K car for a $30K vehicle, you only pay $13% on the $10K difference)

Does this also apply to other goods? (e.g. say you want to "trade in" your piano that's worth $20K to a $40K model.)
Or is the trade in sales tax credit thing a special provision for vehicles only?
1 reply
Deal Addict
User avatar
Oct 13, 2007
4920 posts
3840 upvotes
Edmonton
It should work the same way since the tax was already paid on the original item. The amount if the trade is deducted and you pay tax on the net balance.

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