GotBass?
Legacy Member
I have a leased car that I just don’t use, so I’m thinking of getting rid of it. I could do a lease transfer, but in the current market, it’s more interesting financially to sell the car. My payout is around 29k including GST and I’m very confident I could sell the car for around 38k. My understanding is that to sell the car, I have to purchase it first from the leasing company. This implies that I would pay the QST on the payout and then the buyer would pay the QST again on the sale price or book value. As far as I know, the only way around paying the QST twice is through an accommodation sale. However, I don’t intend to buy a new car in the short term. I don’t need one and what I might be interested in isn’t available anyway. So the accommodation sale isn’t an option… Is there any other way around paying the QST twice?