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Thread: Used Firearms ---- offers?

  1. #11
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    Quote Originally Posted by triggerman42 View Post
    There are no taxes on consignment firearms at my local gun shop either. They don't consider them part of the stores stock. They are consigned there by their private owners , so I guess they are considered private sales. I really haven't asked them why there is no tax. I just didn't , and will not argue with them about that.
    If you pay for a consignment with cash it does not have to go thru the till--so no tax. If you use a c/c or debit card then you pay tax. That is how it works at my local store.
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  2. #12
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    Quote Originally Posted by triggerman42 View Post
    There are no taxes on consignment firearms at my local gun shop either. They don't consider them part of the stores stock. They are consigned there by their private owners , so I guess they are considered private sales. I really haven't asked them why there is no tax. I just didn't , and will not argue with them about that.
    Believe me we don't look for ways to charge more taxes. That said this is the final word from the government "Regardless of the type of consignment arrangement, the final purchaser must pay the GST/HST when buying taxable goods sold on a consignment basis." I found this here https://www.canada.ca/en/revenue-age...ned-goods.html
    If there is a tax lawyer out there with another spin on this subject please chime in.

  3. #13
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    But - at the end of the day it is how much the firearm is going to cost - tax - shipping .... All calculated. So is there a firearm you are wanting from us? Give us an offer on it. I will review my notes to see if the seller is open to a lower price. If not I will contact them to present your reasonable offer. So maybe save 15% on a used firearm.

  4. #14
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    Quote Originally Posted by Wolverine Guns and Tackle View Post
    Believe me we don't look for ways to charge more taxes. That said this is the final word from the government "Regardless of the type of consignment arrangement, the final purchaser must pay the GST/HST when buying taxable goods sold on a consignment basis." I found this here https://www.canada.ca/en/revenue-age...ned-goods.html
    If there is a tax lawyer out there with another spin on this subject please chime in.
    The used pistol sold by an individual through your business isn't a taxable good. Your services (the 20%) is taxable. So if a consignement pistol is sold for 1000$, then the buyer pays 1000$, you place 200$ in the till, and send 5% of 200$ to Justin (that's 10$). Former owner of said pistol receives 790$ (we suppose GST only in this scenario, just change 5% for whatever rate you want if HST/PST has to be paid too). What your store has sold is for 200$ in consignement services, to the former owner of the pistol.

    There is also a difference when buying/selling used firearms. I'm not talking about consignement here, but the store actually buying and selling used firearms. If Bob comes to your store and sells you a rifle for 600$ and buys a scope for 1000$, you can either charge him for the taxes on the whole scope (1000$) or only the difference (400$). In the first case, you've made 2 different transactions, with Bob making a purchase of 1000$ (taxed) and then a sale of 600$ (on which no tax is saved). In the second case, you can treat it like you bought the rifle for 0$ and sold the scope for 400$, triggering a tax on only 400$.

    You might want to consult an accountant or a lawyer well versed into this kind of things if you do lots of business in used stuff, whether it's firearms or anything else. You could save yourself or your customers quite a bit of money just by accounting things differently. And unlike a previous poster's LGS which allegedly commits tax fraud (using cash to avoid paying taxes is a tax fraud), you can do things on the up and up without charging your customers for more taxes than necessary.

  5. #15
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    Here is a good example of a motivated seller. This is already priced lower than market value and there is a little room.
    25-06
    https://www.wolverinegt.ca/weatherby...tock-item.html
    Name:  a.jpg
Views: 801
Size:  25.2 KB

  6. #16
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    I just added half a dozen (new to us) used firearms to the webstore. Sometimes these take a few hours to show up.

  7. #17
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    Here is one of the new firearms we just added to the web store. I believe it is priced to sell - but - make us an offer. SOLD!
    https://www.wolverinegt.ca/savage-10-bolt-action-rifle-308win-with-burris-4-20x50mm-veracity-scope-pepr
    Name:  a.jpg
Views: 587
Size:  31.2 KB-rings-bipod-1-magazine-item-21-37465.html
    Last edited by Wolverine Guns and Tackle; 11-10-2019 at 12:18 PM.

  8. #18
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    Many more to choose from.

  9. #19
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  10. #20
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