PISTON LAKE CRUISER Posted November 4, 2016 Share Posted November 4, 2016 So I just got off the phone with TD insurance regarding my sled insurance policy. I dropped the stated value of each of my 2 sleds which reduced the policy cost by $43.00+ 8% tax. I also added 2 new optional coverages doubling my protection from the changes made by all insurance companies on June 1,2016. This cost a total of $26.00+ 8% tax. With TD insurance you can reduce the stated value to the more realistic depreciated value each year and it reduces your policy renewal cost. I've been doing this each year for about 8 years. You still get market value for it if it is a total loss. Now the kicker. I was talking with the TD rep on the phone and he tells me that there is 8% (Ontario) Tax on sled insurance BUT not on ATV insurance or car insurance. He agreed that it was ridiculous. So now our Wynne Witch puts very little $ into sledding in Ontario but gets all the Ontario portion per litre on the fuel we use + 8% on all our sled insurance +the 8% portion of the sales tax when we buy sleds, parts etc.. Somehow it doesn't seem fair to me but I'm sure the witch or one of her goblins could spin use a reason for this thievery. Link to comment Share on other sites More sharing options...
dweese Posted November 4, 2016 Share Posted November 4, 2016 You can blame the witch, but I'm sure it wasn't her to set this tax code on sled insurance. I'm sure it's an old carry over from days passed... If you do some research on the topic. Its almost as if a snowmobile isn't looked at as a vehicle in Ontario, the sameway ATVs and motorcycles are. Could have something to do with the motorized snowmachine act, not sure. But sounds like a good topic to put to the OGSC government lobbyist. Link to comment Share on other sites More sharing options...
PISTON LAKE CRUISER Posted November 5, 2016 Author Share Posted November 5, 2016 For sake of an uneducated estimate, if there are 80,000 permitted sleds then there should also be 80,000 insured sleds. (I'm don't know how many valtags are sold a year but that should be a better estimate of insured sled #'s) If for this estimates sake we use an average insurance cost of $250.00 per sled then the witch is getting $1,600,000.00 a year from tax on sled insurance. That money in my opinion should go directly to the OFSC and back on the snow. Link to comment Share on other sites More sharing options...
manotickmike Posted November 5, 2016 Share Posted November 5, 2016 And the tax on gas was supposed to be destined for road upkeep. Our roads are borderline impassable, and the $$$ goes to pay the interest on their previous mistakes. Link to comment Share on other sites More sharing options...
02Sled Posted November 5, 2016 Share Posted November 5, 2016 40 minutes ago, manotickmike said: And the tax on gas was supposed to be destined for road upkeep. Our roads are borderline impassable, and the $$$ goes to pay the interest on their previous mistakes. The Wynnebag Fiberals love spending money with absolutely no regard for the long term impact or cost. LeClair is Ontario's financial accountability officer. "LeClair also warns the accumulated deficits and the Liberals' "large infrastructure plans" will add $54 billion over the next five years to the province's net debt, which he says will hit $350 billion." "If growth maintains the same pace, LeClair says there would be a deficit of $1.4 billion in 2017-18, growing to $3.5 billion by 2020-021." http://barrie.ctvnews.ca/ontario-financial-accountability-officer-warns-of-increased-debt-1.2907236 Link to comment Share on other sites More sharing options...
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