Tax implications on Gift Car from USA

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Newlyborn
Member since: May 08

Posts: 82
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Post ID: #PID

Posted on: 21-05-08 23:33:36

Hi Guys !
Can anyone suggest the tax implications if a US citizen sister gifts a car to Canadian citizen brother??
NB

shriya
Member since: Sep 06

Posts: 121
Location: everywhere
Post ID: #PID

Posted on: 22-05-08 06:16:28

At the border,the vehicle will be assessed in canadian value and depending on that you will be paying duty/excercise tax( not sure about GST). And when you register the vehicle in ontario again based on assessed value in canadian dollars you will be paying 8% PST.
siblings are not exempted from taxes anyhow.

Shriya.

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