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Yuan
07-07-2003, 04:51 PM
hey guys

how hard is it to switch one car's ownership from my mom's name to my sister's name? there's no money involved between my mom and sis

thanks in advance guys

djcontra
07-07-2003, 05:42 PM
It shouldn't be a problem, but they will both need to visit the centre to do it because they have to sign forms in front of an officer.
I just did this with my car a month ago. Cost was nothing because there was no money involved. Bring all your papers including driveclean, saftey, and ownership.

KIRASIR
07-07-2003, 06:13 PM
You will have to pay 20 bucks for the notary.

SL

sadda///M
07-07-2003, 09:13 PM
i thought the ministry will nail you with a 'gift' tax when you transfer ownership without money changing hands. is this not true?

and btw, when the ownership is transferred to your sister, shell have to fork out more $$$ for insurance. you prolly are aware of this already

KIRASIR
07-07-2003, 09:28 PM
You can only transfer ownership taxfree to a close relative, mother-son, spouse, father-daughter, etc. (I am not sure
about sister-brother, grandson-grandmother)

All the other cases, you will have to pay tax even if the car is a gift to the other person.

SL

Originally posted by sadda///M
i thought the ministry will nail you with a 'gift' tax when you transfer ownership without money changing hands. is this not true?

and btw, when the ownership is transferred to your sister, shell have to fork out more $$$ for insurance. you prolly are aware of this already

dtthiaga
07-07-2003, 09:51 PM
I went through a couple of these cases, in transferring a car.

Parent to Child, no taxes paid.
Brother-Brother, you have to pay taxes (GST).
The same applies to all combinations of Sister/Brother.


I believe Child to Parent, you have to pay taxes (GST).

If you say the money exchanged was $0 in the case of Brother-Brother etc, the Ministry will charge GST on the lowest black book value (poor).

Hope it helps.

KIRASIR
07-07-2003, 10:50 PM
"I believe Child to Parent, you have to pay taxes (GST)."

Either way you don't have to pay taxes. 100% sure since I've done it.

SL



Originally posted by dtthiaga
I went through a couple of these cases, in transferring a car.

Parent to Child, no taxes paid.
Brother-Brother, you have to pay taxes (GST).
The same applies to all combinations of Sister/Brother.


I believe Child to Parent, you have to pay taxes (GST).

If you say the money exchanged was $0 in the case of Brother-Brother etc, the Ministry will charge GST on the lowest black book value (poor).

Hope it helps.

dtthiaga
07-09-2003, 01:59 PM
Are you sure, I asked the Ministry about Child to Parent transfers in Ontario.... taxes must be paid.

djcontra
07-09-2003, 02:04 PM
Originally posted by dtthiaga
Are you sure, I asked the Ministry about Child to Parent transfers in Ontario.... taxes must be paid.

I never had to pay the tax.

KIRASIR
07-09-2003, 02:16 PM
I transferred my car to my mother 2 years ago; did not have to pay any taxes.

SL

Originally posted by dtthiaga
Are you sure, I asked the Ministry about Child to Parent transfers in Ontario.... taxes must be paid.

sonic07
07-10-2003, 11:26 AM
Originally posted by djcontra
It shouldn't be a problem, but they will both need to visit the centre to do it because they have to sign forms in front of an officer.
I just did this with my car a month ago. Cost was nothing because there was no money involved. Bring all your papers including driveclean, saftey, and ownership.

do you really have to e-test and certification ?

djcontra
07-10-2003, 01:39 PM
Originally posted by sonic07
do you really have to e-test and certification ?

You don't have to do it again, but if you have the papers, it's good to have in case they ask for it.

WASABI
07-10-2003, 02:12 PM
It never hurts to call them and ask. :idea: They can be pretty helpful on the phone too. *th-up*