Tax on a used boat

KCW

Active Member
Purchased my boat in 2009, paid 9000 for it , Paid tax on the trailer 1500 So i owe the goverment 7% on 7500.
The bill of sale is itemised , elec downriggers , gps, 9.9 kicker, mainmotor, trailer. Can i deduct any of those of the totall amount or am i stuck paying all that tax on a used boat (sucks)
 
You should be able to deduct all items from the cost of the "Package deal" and pay tax on the hull and motor if it was an inboard if outboard I think you can deduct that also.
Also since your paying it this late in the game I believe you will have to pay the full HST 12%,
 
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