Selling used car - do I need to collect GST (British Columbia)?
Hi all,
I’m about to list my vehicle for a private sale. Looking at the transfer paperwork, there is a section for the seller’s GST number. I recently registered for one as I will be taking a new position where I am classed as a contractor and am required to have one. My business is not related to vehicle sales so there would be no confusing me with a car dealer.
Information I can find about this is confusing and in some cases says private sellers don’t need to collect, only GST registrants. But what if I’m both?
Am I understanding correctly that if I don’t collect GST, the buyer will need to pay it when they register the car? And if I do have to charge it, it’s not an extra cost as they’d be exempted from paying it upon registration?
BC vehicle tax rules are so confusing! Appreciate any input.
I’m about to list my vehicle for a private sale. Looking at the transfer paperwork, there is a section for the seller’s GST number. I recently registered for one as I will be taking a new position where I am classed as a contractor and am required to have one. My business is not related to vehicle sales so there would be no confusing me with a car dealer.
Information I can find about this is confusing and in some cases says private sellers don’t need to collect, only GST registrants. But what if I’m both?
Am I understanding correctly that if I don’t collect GST, the buyer will need to pay it when they register the car? And if I do have to charge it, it’s not an extra cost as they’d be exempted from paying it upon registration?
BC vehicle tax rules are so confusing! Appreciate any input.