Taxes on Boat Purchase - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest Forums > Boat Review and Purchase Forum > Boat Buyers & Sellers Forum
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 06-19-2009
Junior Member
 
Join Date: Apr 2009
Posts: 8
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
MediaGuy is on a distinguished road
Taxes on Boat Purchase

My Brother-in-law bought a boat in Florida and went offshore for the closing and didn't pay any tax. He is a dual citizen, Canadian and Argentine, living in Argentina (sailing the Caribbean).
I am wondering about registration as a Canadian and Tax issues which would be the best for me. I am not taking the boat to Canada but will be keeping it in the Caribbean. The tankers are all registered in Panama. If I register in Canada the taxes are wow. Any suggestions????

Thanks!!
Reply With Quote Share with Facebook
  #2  
Old 06-19-2009
sailingdog's Avatar
Telstar 28
 
Join Date: Mar 2006
Location: New England
Posts: 43,291
Thanks: 0
Thanked 8 Times in 8 Posts
Rep Power: 13
sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice
You'd really need to consult an attorney versed in tax law for canada, but I would point out that if you're in US waters for more than 90 days, that you'll generally be paying some sort of taxes on the boat regardless.
__________________
Sailingdog

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Telstar 28
New England

You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.

óCpt. Mal Reynolds, Serenity (edited)

If you're new to the Sailnet Forums... please read this
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.

StillóDON'T READ THAT POST AGAIN.
Reply With Quote Share with Facebook
  #3  
Old 06-19-2009
Vasco's Avatar
Warm Weather Sailor
 
Join Date: Sep 2006
Location: Toronto
Posts: 954
Thanks: 0
Thanked 3 Times in 3 Posts
Rep Power: 8
Vasco is on a distinguished road
You can register the vessel in Canada and as long as the vessel does not enter Canada no taxes are payable.
Registration of Vessels - Vessel Registration Office - Operations and Environmental Programs - Marine Safety - Marine Transportation - Transport Canada
__________________
Rick I
Toronto in summer, Bahamas in winter.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #4  
Old 06-19-2009
imagine2frolic's Avatar
Senior Member
 
Join Date: Aug 2008
Posts: 1,831
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 6
imagine2frolic is on a distinguished road
When I bought Imagine in the Caribbean. I registered the boat in my glorious home state Ca. Ca. actually drops the taxes after 6 months if you can prove the boat never entered Ca. within that time......i2f
__________________
20 MPH ain't fast unless, you do it in a 1000sq 3/2 house on 10foot waves
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


BORROWED, No single one of us is as smart as all of us!
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.



To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #5  
Old 06-19-2009
hellosailor's Avatar
Senior Member
 
Join Date: Apr 2006
Posts: 10,039
Thanks: 0
Thanked 50 Times in 49 Posts
Rep Power: 10
hellosailor has a spectacular aura about hellosailor has a spectacular aura about
"I registered the boat in my glorious home state Ca. Ca. actually drops the taxes after 6 months if you can prove the boat never entered Ca. within that time"
That's got to be the shortest and most generous sales/use tax policy in the entire US! No wonder Cali is going bankrupt.
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Re-naming the boat pirateofcapeann General Discussion (sailing related) 130 01-07-2014 11:14 AM
Naming and Renaming Your Boat Sue & Larry Buying a Boat Articles 0 12-15-2003 07:00 PM
Fine-Tuning the Autopilot, Part Two Dan Neri Gear and Maintenance Articles 0 10-13-2003 08:00 PM
The Balance of Hull and Sails Steve Colgate Learning to Sail Articles 0 05-25-2000 08:00 PM
The Balance of Hull and Sails Steve Colgate Buying a Boat Articles 0 05-25-2000 08:00 PM


All times are GMT -4. The time now is 09:07 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012