I sold a used car that I received as a gift; do I need to claim that on my taxes in Canada?

1 Answer 1


When you receive a car as a gift, you still have to pay retail sales tax on it, unless it was received from a close family member. When you sell your car, the buyer has to pay retail sales tax on it. See here for more information on the above: http://www.mto.gov.on.ca/english/dandv/vehicle/used.shtml

Assuming you were not declaring depreciation on the car or car maintenance as a business expense, then there is no impact on your income taxes for either buying or selling a car.

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .