BC Liberals introduce new bill advocating zero PST on used car sales under $20,000

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By Nathan Jordan

Used car tax cuts

November 1, 2022 | 5:13 p.m.

PRINCE GEORGE — As the cost of gas, groceries, housing and cars continues to soar through the roof, there could be some relief on the horizon. BC Liberal Finance Critic Peter Milobar has tabled a new bill that could make buying used vehicles more affordable. The new bill could see the elimination of the provincial sales tax on the resale of used cars under $20,000.

Earlier this year, the NDP announced it would adjust the tax system on used car sales, with taxes being calculated based on the book value of the vehicle rather than the selling price. The Liberal bill tabled Monday aims to provide a full PST exemption for all used car sales under $20,000 that have been driven at least 6,000 km. The measure could provide up to $2,400 in tax relief on used vehicle purchases, depending on the resale price paid. Something will have a major impact on how consumers spend their money, car dealers say

“You have a choice, you can spend money on taxes, or maybe you can just spend money on extra things like maintenance or tires. Your money goes a lot further when 7% of that purchase price does not go to tax” -Don Willimont, Director of Business Operations Wood Wheaton

According to the MNP Consumer Debt Index, 42% of British Columbians are within $200 of insolvency at the end of each month, and 51% say it is becoming less affordable to eat and feed their families. The used car PST amendment is designed to ease the major financial burdens Canadians face when looking for a good deal on a car, and the BC Liberals hope that by making new accessible used vehicles, Canadians who need them the most could start to catch a break.

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