Quote:
Originally Posted by 67BelAir427
If the car is registered in another province then you can't as they trade info. But if the car is another province and has not been registered then you can. Lots of collectors do not register with MTO or the DMV to save sales tax. So if the other jurisdiction does not know about the
sale then in the eyes of the MTO you are still the owner.
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YES you "could" possibly save taxes. But it was looking like IF you sold the car, and the new owner didn't register/change-the-ownership it is still in your name, just go get a new ownership and go collect the car????
Now if who you sold the car is will to sell it back and the ownership hasn't been change, then ya you could possibly save tax $$$. EVERYCAR I have ever dealt with has a strong paper trail with a couple signed off documents. So even when I didn't change the ownership over (like in one of my race/TRACK ONLY CARS) I still had the deposit amount and signed with balance owing. Then balanced PAID IF FULL also signed and dated by 3 signatures and usually a picture or 2. They all sit in a file together and IF somewhere were to come at me after the fact, I have documentation that I bought the car, paid in full, yet haven't transferred the ownership yet. Plus the back of the ownership IS SIGNED off on sale of car as well.