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      10-02-2012, 12:56 PM   #2
AGO 530
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Drives: AW '11 335i E90
Join Date: Feb 2010
Location: Toronto

Posts: 93
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2011 BMW 335i  [5.00]
2008 BMW X5  [5.00]
Quote:
Originally Posted by e9012345 View Post
Hi,

I'm not very familiar with buying/selling vehicles in Ontario. I know I just need the bill of sale which is at the back of the UVIP print out you get online and sign over the ownership to the new owner and vice versa for buying and selling in Ontario.

But what about tax? What is to stop me from declaring a $10 tax on a $50,000 cash deal and say it was a gift?

Thanks for any feedback!
The harmonized sale tax (HST 13%) is charged based on black book value.

Gifting a vehicle for a dollar was abolished some time ago, I do believe that you can gift one vehicle a year to a family member. Whatís required to prove the family relation, Iím not sure.
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