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    NorPlan Posts: 425, Reputation: 3
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    Apr 25, 2020, 11:26 AM
    Used Car / Transfer Ownership / Taxes ??
    Giving a 7 yr old Chrysler 200 to a Friend , Car Body is still in top shape.. Rear Main Seal is leaking and a couple other things , Repair is guesstimated at around $1,500.. The agreement is the Recipient of the Car will cover the Cost of Repair .. Under the Province of Ontario MTO the Sales Tax under Transfer of Ownership is taken from the Red Book Value determined jointly by the Insurance Industry & Dealership Associations.. If an Appraised Value of a lessor amount is Accepted by the Ministry then that is what the Tax is taken from.. My Son is of the opinion He being the previous owner pre Transfer of Ownership pays the Sales Tax as he has to Declare the Tax as Income.. Thoughts & Opinions Appreciated.. Cheers Thanks

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