Importing a boat to Canada

[Stu Jackson]

Originally Posted by misanthropix

Followup/related question about the value on which taxes/duty are calculated. Scenario:
- Boat purchased abroad, Canadian registered at time of purchase. Say cad$300k new (ie, luxury tax on $50k + taxes might also have applied if brought straight over)
- Kept abroad for extended period: eg, cruised europe for 6 months, sailed transat to US
- THEN brought to canada

How would the value at time of importation be calculated?
It should clearly be much less than the purchase price documented 12 months and 10k nautical miles ago...but this is canada, so anticipating disappointment.

The appropriate and legal way to deal with this issue is to locate comparative prices of that boat from reliable sources, i.e., dealers, brokers, online advertisements. Your originally new boat is now 6 to 12 months old(er). How much the boat is worth as far as Canadian import fees will be based on the information YOU bring with you, because the Canadian tax folks know about taxes but they do not know about boat values. They also tax a whole bunch of other stuff. They rely on YOU to tell them what it's worth.


I imported my 1986 boat into Canada in 2016 and in 2017 I went to the tax office armed with three or four "comp" ads for the same 1986 boat. They were all around the same price, and when asked by the agent which price I'd pick, I chose the middle one (all were two or three thousand dollars apart).


This is NOT hard, but YOU have to do the research and homework, because it is NOT their job. If you don't, they'll look up some BlueBook value which, I'd bet, will be a lot higher than you could find.


Make it EASY for them, and you'll be fine.

[Montanan]

Reference:

https://www.cbsa-asfc.gc.ca/publicat...3-3-1-eng.html

[misanthropix]

Thank you Stu and Montana!



Note

https://www.cbsa-asfc.gc.ca/publications/dm-md/d13/d13-5-1-eng.html
"12. In relation to the goods being appraised, when there are several transaction values of identical or similar goods...the lowest of these values will be used as the basis of establishing the value for duty."

[GordMay]

Donald Trump imposed a 25 per cent tariff on virtually all goods from Canada, and a lower 10 per cent tariff on Canadian energy products.

The Canadian government has pledged to hit the U.S. with retaliatory 25 per cent tariffs on $155 billion worth of American goods coming into Canada.
There will be an immediate $30 billion implemented on Tuesday [Feb. 4], and the remaining $125 billion in 21 days [Feb. 25].
According to a news release [1], from the Department of Finance, the second, $125-billion phase will include products, like recreational vehicles, and recreational boats, the news release said.
The tariffs announced today by the Government of Canada will not apply to U.S. goods that are in transit to Canada on the day on which these countermeasures come into force.

[1] “Canada announces $155B tariff package in response to unjustified U.S. tariffs”
From: Department of Finance Canada
➥ https://www.canada.ca/en/department-...s-tariffs.html

[GordMay]

North American trade war now on pause, after both Canada and Mexico secured a one-month delay of U.S.-threatened tariffs.
The tariffs "will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured," Trump wrote, in a social media post, confirming the pause, on Monday night.
Trump simultaneously released a formal declaration [1], suggesting a different goal, for the next 30 days.
More tariffs. This means that if, and when, Trump threatens economic pain again, we can all resume arguing about whether it's the border or something else.
Welcome to our new reality, where we'll be asking ourselves that question again and again, starting, perhaps, in about 30 days.

[1] “Progress on the Situation at Our Northern Border”
➥ https://www.whitehouse.gov/president...rthern-border/

[GordMay]

What's next, for tarrifs, on boats?
"Agenda 47" is Donald Trump's 2024 presidential campaign formal policy plans.[1] According to the Trump campaign, it is "the only official comprehensive and detailed look at what President Trump will do if he returns to the White House".

[1] Agenda 47: Statements
➥ https://www.donaldjtrump.com/agenda47
Including:
Agenda47: Cementing Fair and Reciprocal Trade with the Trump Reciprocal Trade Act
➥ https://www.donaldjtrump.com/agenda4...ocal-trade-act

[bcboomer]

Interesting collection of "ideas".
I'm trying to figure out if he doesn't understand the principles of trade, how the economy works, how long it would take the US to replace the manufacturing done in Canada and Mexico, how long to change their refineries to process different feed stock, etc, or is he just bent on willful destruction of the North American economy.

[5BTM]

H?bert et Associ?s Conseillers Maritime - Capsule 10 : Taxes, duties and fees
Might be a useful reference for some.

As for the other thread drift, we shouldput out our entire fleet, all 12 of them, of Kingston -class coastal defence vessels to sea to show that we are serious about protecting our 243,032 kilometers long coastline.

That will show him......