All rebates are not created equal. Ontario and Quebec recently passed new legistation offering $2000 and $1000 tax rebates respectively. These rebates are calculated only on the provincial sales taxes paid, not the price of the car. Let’s say you are buying a $30,000 car with a $20,000 trade-in, the buyer would pay only $800 worth of provincial sales taxes due on the $10,000 cash portion of the purchase. This means that $800 would be the maximum rebate that buyer could expect to collect on this purchase.
Keep this in mind when you are budgeting for the purchase of your hybrid car.
[...] Hybrid Car Tax Rebates These rebates are calculated only on the provincial sales taxes paid, not the price of the car. Let’s say you are buying a $30000 car with a $20000 trade-in, the buyer would pay only $800 worth of provincial sales taxes due on the … [...]