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When you gift a car to an eligible person in Ontario, that person isn't required to pay retail sales tax (RST) on the value of the vehicle. RST is based on the Canadian Red Book value of the vehicle and it's typically required when a vehicle's ownership is transferred from one individual to another.
a completed Sworn Statement for a Family Gift of a Used Motor Vehicle in the Province of Ontario form. proof of Ontario vehicle insurance. your Ontario driver's licence. Safety Standards Certificate (this is not required for spouse-to-spouse transfers, but you must complete a spousal declaration)
You can't gift a car (or transfer ownership) unless you fully own it. So before you can think about gifting your car to a family member, you need to make sure you've paid off any remaining balance on your car loan.
Procedure to Transfer Car Ownership Step 1 - Notarise the Agreement of Sale. ... Step 2 - Fill the Necessary Documents and Submit the Same. ... Step 3 - Hand Over the Necessary Documents. ... Step 4 - Application for Clearance Certificate. ... Step 5 - Application for Transfer of Ownership at the New RTO.
The Form 11573 Sworn Statement for Family Gift of Used Vehicle is a declaration that sets out the circumstances of the ownership transfer. The Sworn Statement must be signed by the donor and the recipient and notarized by a notary public or commissioner for taking affidavits.
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The main benefit to gifting a car in Ontario to one of these family members is that the recipient isn't required to pay retail sales tax (RST) on the value of the vehicle. That means that you're effectively saving your family member the entire price of the car plus 13% of the purchase price that usually goes to RST.
a completed Sworn Statement for a Family Gift of a Used Motor Vehicle in the Province of Ontario form. proof of Ontario vehicle insurance. your Ontario driver's licence. Safety Standards Certificate (this is not required for spouse-to-spouse transfers, but you must complete a spousal declaration)
Complete a Sworn Statement for Family Gift form One of the required documents when gifting a vehicle in Ontario is a sworn statement that the car is a family gift and the recipient is an eligible family member.
Complete a Sworn Statement for Family Gift form One of the required documents when gifting a vehicle in Ontario is a sworn statement that the car is a family gift and the recipient is an eligible family member.
The Form 11573 Sworn Statement for Family Gift of Used Vehicle is a declaration that sets out the circumstances of the ownership transfer. The Sworn Statement must be signed by the donor and the recipient and notarized by a notary public or commissioner for taking affidavits.

how to fill out sworn statement for a family gift of a used vehicle in the province of ontario