Tax Rules for Used Vehicles in Ontario | MyChoice

Описание: 🚘️ Are you buying a used car?

You’ll need to budget for more than just the sticker price. In Ontario, you’re required to pay HST (13%) on the purchase of a used vehicle from a dealership, and in many cases, private sales too.

If you buy from a private seller, the tax is calculated based on the Canadian Red Book value. That’s a standard market value guideline for tax purposes.

Plus, don’t forget the fee for registration, licensing, and safety inspections. These are extra costs you must spend, so when shopping used, be aware of them.

Read our full article at mychoice.ca to learn more.

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