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Posted

Hey guys, just wondering when you change name on the car, is there a minimum cost you need to pay or just the 2% or somethin of what you brought the car for?

Posted
Hey guys, just wondering when you change name on the car, is there a minimum cost you need to pay or just the 2% or somethin of what you brought the car for?

Transfer ownership will cost you 3% of purcahse price or market value of vehicle, plus $27 or something for RTA fees.

If you're transferring to spouse it is free of stamp duty but you need to prove he/she is your spouse.

Posted
Is it ok to put the car price sold as like $1? or is there a minimum?

if people could, they would. i'm pretty sure they would have a tolerance on purchase price vs market value. but for a example a $20,000 car allegedly purchased for $1000, they'll raise an eyebrow and most likely charge tax on the market value


Posted

There is a tolerance range from market value, I don't know what it is, but I do know if you are giving the car away say as in to your child they will charge you market value (I saw this happen one time at the RTA as a father was transferring the car to his son and could not understand why he had to pay stamp duty, I left before security was called)

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