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News Saskatchewan Introduces Used Car Sales Tax

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

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Similar from the Web. News: Saskatchewan Introduces Used Car Sales Tax - ca.lalalay.com. Taxation revenue was projected to be down, but offset by a broadening the provincial sales tax (PST).

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 Lincoln Navigator Smashes March Sales Records With Triple-Digit Increase. Saskatchewan Introduces Used Car Sales Tax .

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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Provincial Sales Tax (PST) is a 6% sales tax that applies to the purchase, rental, or importation of taxable goods and services for consumption or use in Saskatchewan .

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

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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