Quote:
Originally Posted by 67since67
In 1982 I sold a roadworthy project El Camino and a bed full of parts to two gentlemen from Hamilton ONT. They were very happy that it had a mis-matched color fender from another car that they said would be leverage to limit the duty (Tariff) value at the border which seemed substantial back then.
So maybe the only thing new here is the increased percentage of value to import into CAN??
A couple years ago I was pursuing a Beaumont SD. TFX was going to handle the paperwork at the border but the numbers quoted for coming this way weren't anything substantial.
|
Your El Camino situation was common place in those days. Vehicles that were less than 25 yrs old were subject to duty, so a vehicle that appeared in poor condition was often declared at a lesser value, thus less duty and tax.
Once a vehicle was over 25 yrs old the duty wasn't applicable so it didn't matter.
In the case of the 68 Charger, yes it will only increase the value to import
98,000 USD purchase price......1.44 exchange rate to Canadian
141,000 Canadian value for purchase price
35,250 25% tariff (duty)
176,250 Canadian import value
8,812.50 GST (federal goods and services tax)
185,062.50 Total cost of vehicle in Canada
If the vehicle originally came with A/C there is a tax on that
In Alberta there is no provincial (state) tax (just like Oregon and Montana)
Other provinces have provincial sales taxes (PST) or harmonized sales tax (HST) which combines the provincial and GST.
This is our little world. If tariffs continue it will certainly put the brakes on our old cars.