News Saskatchewan Introduces Used Car Sales Tax

18:31  13 april  2018
18:31  13 april  2018 Source:   autotrader.ca

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Taxation revenue was projected to be down, but offset by a broadening the provincial sales tax (PST). Investors looking into our province aren’t going to look at whether or not there is PST on used cars .” New incentive programs. The budget introduced a Saskatchewan Value-added Agriculture.

Sales tax on used vehicles. ' SGI dictating tax charged on used s market | Regina Leader-Post - For In the 2018 Saskatchewan budget, the PST exemption that applied to used car s will be lifted.

used cars.jpg© http://www.autotrader.ca/ used cars.jpg

Saskatchewan has instituted a 6 percent sales tax on used cars, an item in the province's latest budget that ends a decade-old policy of not taxing the purchase of pre-owned vehicles,  a system the Saskatchewan Auto Dealers Association called a "nightmare."

According to an Automotive News story, the Saskatchewan Auto Dealers Association's members, who include new car dealers and parts manufacturers, "almost unanimously" agree with the change.

But a CBC report indicates that stand-alone used car dealers have a much different opinion of the change. They say the province did not consult them before deciding to implement the tax, and are worried the added costs to consumers will hurt a segment of the car sales industry that had already seen a decline over the past year.

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Visit a motor licence issuer to register your new or used vehicle in Saskatchewan .

Saskatchewan auto dealers must now charge six per cent PST on used vehicles. Buyers in private sales worth over ,000 will also have to pay the tax when they transfer the ownership with SGI. Dealerships will now charge six per cent provincial sales tax on used car sales .

The difference in opinion stems from the inclusion of a trade-in allowance that means only the difference between the value of a vehicle being traded in and the newer one's price will be taxed. That means buyers at franchised used car dealers - those attached to a new car store - stand to benefit more than those who shop at stand-alone used car retailers and who less frequently have an older vehicle to trade.

However, the tax will not be charged on used vehicle sales under $5,000, nor will it apply to cars gifted between family members.

The provincial government estimates the new tax will add up to $95 million in revenue every year.

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