55.0.1. Where a taxable supply by way of sale of a used road vehicle that must be registered under the Highway Safety Code (chapter C-24.2) following an application by the recipient of the vehicle is made for no consideration or for consideration less than the estimated value of the vehicle, the following rules apply:(1) if no consideration is paid for the supply, the supply is deemed to be made for consideration, paid at that time, of a value equal to the estimated value of the vehicle; and
(2) if the consideration for the supply is less than the estimated value of the vehicle, the value of the consideration is deemed to be equal to that estimated value.
This section does not apply in respect of(1) a supply of a road vehicle made following the exercise by the recipient of a right to acquire the vehicle, conferred on the recipient under an agreement in writing for the lease of the vehicle entered into by the recipient and the supplier;
(2) a supply of a road vehicle deemed to be made or received for no consideration or for consideration equal to the fair market value of the vehicle;
(3) a supply of a road vehicle in respect of which tax is deemed to be collected or paid; or
(4) a supply of a road vehicle made between individuals related to each other otherwise than by way of gift.