Estate Trustee's and Executors

With the introduction of new documentation requirements and verifiable asset valuations for calculating Estate Administration Tax (Probate Tax) on January 1st, 2015, the Ontario Ministry of Finance has identified the Boat Value Book as the accepted source of boat values for calculating the Estate Administration Tax.

The links on this page will take you to a downloadable Evaluation form which has been tailored for Estate Representatives who need to value a boat within an estate.

The value for these purposes has been defined as 'wholesale', or 'trade-in' value by the Ministry of Finance. The wholesale value represents the price that a marina, broker or dealer might pay when purchasing the boat to be resold. This value will be lower than the 'Retail' value of the boat, which represents the potential sale price between two private parties.