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2012-04-30
2012-04-03
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Increasing Travellers’ Exemptions
Economic Action Plan 2012 proposes to increase the value of goods that may be imported duty- and tax-free by Canadian residents returning from abroad after a 24-hour and 48-hour absence to $200 and $800, respectively.
Every year, Canadians take some 30 million overnight trips outside of Canada, often returning with goods purchased abroad. Modernization of the rules applied to these purchases is long overdue. Economic Action Plan 2012 proposes the most significant increase in the duty- and tax-free travellers’ exemptions in decades. The travellers’ exemption allows Canadians to bring back goods up to a specified dollar limit without having to pay duties or taxes, including customs duty, Goods and Services Tax/Harmonized Sales Tax, federal excise levies and provincial sales and product taxes.
The Government proposes to increase the value of goods that may be imported duty- and tax-free by Canadian residents returning from abroad after a 24-hour and 48-hour absence to $200 and $800, harmonizing them with U.S. levels. This measure will facilitate cross-border travel by streamlining the processing of returning Canadian travellers who have made purchases while outside Canada. This change will be effective beginning on June 1, 2012. It is estimated that this measure will reduce federal revenues by $13 million in 2012–13 and by $17 million in 2013–14.
This is from http://www.budget.gc.ca/2012/plan/chap3-2-eng.html
Increasing Travellers’ Exemptions
Economic Action Plan 2012 proposes to increase the value of goods that may be imported duty- and tax-free by Canadian residents returning from abroad after a 24-hour and 48-hour absence to $200 and $800, respectively.
Every year, Canadians take some 30 million overnight trips outside of Canada, often returning with goods purchased abroad. Modernization of the rules applied to these purchases is long overdue. Economic Action Plan 2012 proposes the most significant increase in the duty- and tax-free travellers’ exemptions in decades. The travellers’ exemption allows Canadians to bring back goods up to a specified dollar limit without having to pay duties or taxes, including customs duty, Goods and Services Tax/Harmonized Sales Tax, federal excise levies and provincial sales and product taxes.
The Government proposes to increase the value of goods that may be imported duty- and tax-free by Canadian residents returning from abroad after a 24-hour and 48-hour absence to $200 and $800, harmonizing them with U.S. levels. This measure will facilitate cross-border travel by streamlining the processing of returning Canadian travellers who have made purchases while outside Canada. This change will be effective beginning on June 1, 2012. It is estimated that this measure will reduce federal revenues by $13 million in 2012–13 and by $17 million in 2013–14.
This is from http://www.budget.gc.ca/2012/plan/chap3-2-eng.html
"New" Personal Exemptions for Residents Returning to Canada
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So, for a person not to have to pay taxes and duty, they had to be under $50 for a 24 hour period. That has gone up to $200.
Each person over 48 hours or more, the first $400 was exempt from taxes and duties. That has gone up to $800.
You may still have to be careful. If you are over for 24 hours and have $205 worth of goods, technically taxes and duties would be due on the full $205. That is, if the old rule still applies.
For the 48 hour period, the first $800 is exempt, even if you have purchased more than $800.
coming June 2012
So, for a person not to have to pay taxes and duty, they had to be under $50 for a 24 hour period. That has gone up to $200.
Each person over 48 hours or more, the first $400 was exempt from taxes and duties. That has gone up to $800.
You may still have to be careful. If you are over for 24 hours and have $205 worth of goods, technically taxes and duties would be due on the full $205. That is, if the old rule still applies.
For the 48 hour period, the first $800 is exempt, even if you have purchased more than $800.
coming June 2012
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