Originally Posted by koalla
any experts on this? what i have is an canadian registered vessel being sold in us waters. I read that there is an excise tax that could amount to the purchase price
of the boat if advertised and sold in american waters. however, i'm canadian looking to purchase this vessel which has been advertise in canada and not in the states. to save the excise tax (ill have to pay tax in canada) is it legit for the vessel to brought to canadian waters for the sale
where then i simple pay the usual canada taxes?
to clearify the gentleman selling the boat is an american in american waters selling a canadian ?
I'm no expert but my understanding is that if the boat is a registered Canadian vessel (not licensed), then you are buying
all of the shares of the vessel, my boat has 64 shares. A registered vessel is like a corporation, no sales taxes on purchasing
shares in a corporation. If the vessel is registered, the owner is selling his shares in a Canadian vessel, makes no difference what country he is a citizen of for your purposes, couldn't really tell what the ramifications he would have to deal with.
Try searching using Transport Canada's vessel registration
query system, if it's there you'll know it's official number, the true owners etc.