i.feature Posted October 19, 2010 Share Posted October 19, 2010 Thought it was about time to start my annual Canadians on Black Friday Thread. Who's going down? Where are you going? What are you excited for and don't you love our dollar near parity? This is my 10th BF and 6th in the Albany area. I don't have any real needs this year so just waiting to see what the ads bring. Link to comment Share on other sites More sharing options...
jaymacfla Posted October 21, 2010 Share Posted October 21, 2010 Do you have any import concerns, duties, fees, etc? Link to comment Share on other sites More sharing options...
i.feature Posted October 21, 2010 Author Share Posted October 21, 2010 We're over for a few days. So have a $400 per person exemption. Beyond that you can pay duty and taxes on what you bring back, however, we've gone over many times and declared such and have not had to pay either. What are your personal exemption amounts? 24 Hour Exemption - $50 CAN If you are absent from Canada for more than 24 hours, you may claim up to $50 CAN worth of goods duty free as your personal exemption. If the goods you bring in are worth more than $50 CAN in total, you cannot claim this exemption. Instead, you will have to pay full duties on all goods you bring in. All goods must be with you when you arrive and you can not include tobacco or alcoholic in this exemption. 48 Hour Exemption - $400 CAN If you are absent from Canada for more than 48 hours, you may claim up to $400 CAN worth of goods duty free, and must have the goods with you when you arrive at the border. You may include some tobacco and alcohol products in this exemption, and should review the section below called "Alcohol and Tobacco" for more details. 7 Day Exemption - $750 CAN If you are absent from Canada for more than 7 days, you may claim up to $750 CAN worth of goods duty free. You may include some tobacco and alcohol products in this exemption, and should review the section below called "Alcohol and Tobacco" for more details. With the exception of tobacco and alcohol products, you do not need to have the goods with you when you arrive at the border. To calculate the number of days you have been absent, do not include the date you left Canada but include the date you returned. Dates matter, not times. For example, we consider you to have been absent seven days if you left Friday the 7th and returned Friday the 14th. What are Duties? The term "duties" includes excise taxes and GST/HST. It does not include provincial or territorial sales tax. However, the CBSA has working agreements with some provinces and territories that allows them to collect provincial and territorial taxes, levies and fees on goods that have a value higher than your personal exemption. Link to comment Share on other sites More sharing options...
honey_bee_1979 Posted October 21, 2010 Share Posted October 21, 2010 I live in NY so you will be near where we shop :) We go to Albany/Schenectady and surrounding areas... Do you find the exchange rate is good for you? Link to comment Share on other sites More sharing options...
i.feature Posted October 21, 2010 Author Share Posted October 21, 2010 I live in NY so you will be near where we shop :) We go to Albany/Schenectady and surrounding areas...Do you find the exchange rate is good for you?Ya that's the area we hit too. The exchange rate is great for us. Today it's $1.00US = $0.98CAD, Just a few days back it was $1=$1. So we're literally talking pennies here. Plus the tax rate is less on consumer goods down there than it is here. Link to comment Share on other sites More sharing options...
jaymacfla Posted October 24, 2010 Share Posted October 24, 2010 So that (exemptions)almost will cover the $2,500.00 required for Premier Silver status! (Best Buy, of course) Link to comment Share on other sites More sharing options...
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