Importing question about taxes?

ajaxguy

ajaxguy

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maybe it has been answered bu I cant seem to find it.... If I am in the states for a couple weeks( driving down ) and I purchase a motorcycle down there and decide to import it right... each person is allowed $800 I believe, so if I purchase a bike and it is less the alotted amount the car is allowed( assuming no other purchases) then would I not have to pay any tax on the bike?

example- Bike costs $3000 ..car with 7 people x $800 each = $5600
 
The exemption is PER person. Unless the bike was registered in all 7 persons name then only the "owner" is permitted to claim the exemption.

One Owner = $800 exemption

I imagine that is how CRA would view it.

Think of it when you go down with your wife and kids your not allowed to claim $3200 ($800 X 4), as the kids are under 18, you would be entitled to $1600 of all goods, (but the "goods" don't have a registered owner).
 
hedo2002 said:
The exemption is PER person. Unless the bike was registered in all 7 persons name then only the "owner" is permitted to claim the exemption.

One Owner = $800 exemption

I imagine that is how CRA would view it.

Think of it when you go down with your wife and kids your not allowed to claim $3200 ($800 X 4), as the kids are under 18, you would be entitled to $1600 of all goods, (but the "goods" don't have a registered owner).
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I guess that makes sense... I mean it wouldnt be registered as its just a sale at that point, but ya the bill of sale would be in my name so thats understandable. The $800 allowed would be taken off the bike price im sure though.
 
ajaxguy said:
I guess that makes sense... I mean it wouldnt be registered as its just a sale at that point, but ya the bill of sale would be in my name so thats understandable. The $800 allowed would be taken off the bike price im sure though.
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Check with customs, but i think when importing / exporting vehicles that allowance doesnt apply.
 
ytvfr said:
For what it's worth I just imported a car in December and the $800 allowance was applied for me.

Guess I was lucky.
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sweeet!
 
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