Tag: gifts

Non-Taxable Timeshare Gifts

When you go to a time share presentation you will probably have been offered some kind of gift, discount or incentive to attend. Most time share companies give away bottles of wine, spa certificates, rounds of golf and the like or may provide free excursions, complimentary meals, day passes etc. These types of time share gifts are not taxable as most are considered a courtesy or comp. If you are told that you have to pay a tax on these at the airport, you are probably being scammed in some way.

Some time share developers may offer cash incentives and this can cause a little concern as in effect, the prize is an income of sorts. However, most reputable companies will offer discounts or monetary incentives that are redeemable against the purchase of something, so as to avoid any grey areas.

TIMESHARE PRESENTATIONS

Common Timeshare Scams

Before going into the details about some of the most common time share scams, it should be stated that time share as a concept is not a scam, rather there are dubious companies out there profiting in a fraudulent way from the guise of time share. In fact, time share can be an excellent investment if the model suits your vacation habits; therefore it is important to remember that if you buy with a reputable company with a great track record, there is very little chance of running into a scam.

Common Scams

Resale phone calls

Beware of any unsolicited phone calls from agents claiming they have found you a buyer for your time share. If you are not looking to sell, this is probably a scam. You will be expected to pay for the details of the buyer who mysteriously never answers your calls.

Gifts with a Catch

To make time share presentations attractive, all operators offer incentives which are usually genuine. However, if the incentive seems too good to be true, then it probably is just that! Some deliberate scams make you pay a high fee to have your free gift delivered and sometimes you simply never receive it if you don’t buy a time share.

Time Share Properties that Never Get Built

Another scam that can cost a lot of money and heartbreak is the pre-sale scam that encourages you to buy a property that has not yet been built. You hand over your money based on the prospect of your dream second home, but it never gets built or the company goes bust. The way to avoid this type of scam is to research the time share developer before even attending a presentation. The genuine companies will be obvious, even with a quick on line check.

Trade in Time Share Scam

Some people are tricked into buying a second time share or joining a timeshare points scheme on the premise that the time share company will sell your old property. If you are offered this service, you are very likely being scammed and you will end up being responsible for two timeshares. The genuine option you have is to add your time share to a vacation club and begin to exchange it for other destinations.

TIME SHARE PRESENTATIONS