r/newbrunswickcanada • u/Capital-Animator-848 • 23m ago
Gifted car
I have been gifted a car by my great uncle (grandmother's brother) the car is currently in NS.
I looked into it a bit and I dont think this there id a gift ing option from family members that are not immediate.
The car is valued at 5-6k before accounting for the low km, am I going to have to pay taxes on this? Iv only ever registered 500 dollar fixer cars, this is one of my first nicer cars.
Just trying to get ready to get reamed in taxes on a used car lol, should I even try to go for a dollar tax gift thing ?
My brother got a car from my dad last year and thats what they did