instead of importing anything why not buy locally . your in business , also there is silvergold bull in alberta and im sure there are other good dealers.
@alabe28 Thanks for the heads-up, Youtube won't let me edit due to number of views, tried a couple time, but its just a postal address, and anyone who would have ever ordered from me in the past would have that address as a return address, 100's of people. No Bullion kept there, plus I have an updated postal address now as the video is quite old, so that is someone else's place now. Thanks again though, Jim
Great video. I imported from Apmex and Fedex is holding the order due to brokerage fees. Sounds like I should pay it and all should be well, as mentioned in the video they fill out the forms correctly so that it passes tax free? Previously I ordered from a Canadian company this feels much better this time around is a little unnerving. Do I have anything to worry about? It's coming to Ontario.
Thank you for the post. I do have another question. I see the form states that this is for the provincial tax portion of the HST. What about the 5% GST itself on Bullion Gold and Silver. When I called customs and asked them if I brought Gold and Silver across the border they told me I wold have to pay the 5% GST. I asked if they were Canadian mint and then they said no. Would love some documentation to present to them that I don't need to pay GST on Bullion when i cross. Any Link? Thanks
@TheRandian1 As far as I know it has to do with the purity and no the Country of manufacturing; although, I could certainly be wrong. I bring a lot of silver across the boarder, and as long as my supplier properly fill out the customs docs with the appropriate code I never get hit with any taxes or duties--it comes to my door free.
@TheRandian1 From my research the taxation rules are based upon the definition of investment grade bullion vice collector items, with .999 or higher purity being considered investment grade, thus non-taxable. CBSA and CRA expect you to file a capital gain or loss when you dispose of your purchase, so theoretically it would really be double-taxation to charge taxes up front and at end. It is very hard to get a clear answer from anyone--I have tried!! In my experience the code works great w. CBSA.
@TheRandian1 Oh and I should also mention that if your silver came across the boarder and the incorrect HS Tariff Codes were applied you are able to claim back the duties and taxes paid. It takes about 5-6 weeks, and you just follow the instructions on the back of the CBSA invoice. They require some documentation saying what the codes were, and what the code should have been, and how much of a refund you should get. takes time, but works well.
After doing some further looking thanks to your points there is a document titled 17.1 Definition of “Financial Instrument” (do a search, can't seem to post link)
Seems to be a bulletin on how certain financial instruments are
categorized. When I cross the border I plan on bringing both
Hey has anyone heard of Tom Greco? He has an alternative idea about a reformed monetary system kind of like a barter system but with credits(not debt) that can be exchanged between productive members of society. Is pretty fascinating alternative than simply backing money with scarce gold. If anyone is interested they should look him up. New ideas like have a true unlimited potential!!
I want to buy an apartment in Vancuver and I live in N.Y. Once I get my pad, how can I transport my silver to my apartment without paying any taxes. Thanks alot and great channel. I have been subscribed for 2 months or so.
@airconditionerking Hi, I think this will depend on your citizenship status . I am not too familiar with the US export laws, but Canadians can transport up to $10K cash, bullion without having to pay any taxes. If you get caught trying to transport more they have the right to confiscate everything.
Some countries are starting to get restrictive on PMs leaving the country, so I would really recommend confirming if it is a State or Fed. issue first(in Can it's Fed.) then look for Regulation/Laws
When I ordered silver from Scottsdale Silver from the US, I got taxed through FedEx when it hit the border. Its happened several times. I think some brokers or shippers don't know or don't care about the tariff codes.
@mostlymichaelcanada I have actually heard a similar story from a shipment with Scottsdale, and it would usually be Scottsdale job to enter the code on the documents. A friend of mine told me when this happened to him he contacted Scottsdale and somehow they worked the taxes out and he was refunded. Maybe I can get him to post about his experience and what he did.
Another issue is that a lot of carriers will not carry or clear bullion(UPS for sure), so if shipping with them can not label it.
@mostlymichaelcanada I too order from Scottsdale Silver. The shipper (his name is Davis) is now enclosing a letter with each order to Canadian Customs people stating that the order enclosed is silver bullion which is part of NAFTA and he quotes the Excise Tax exempt number. My most recent order from them came through with no problem. Cheers
instead of importing anything why not buy locally . your in business , also there is silvergold bull in alberta and im sure there are other good dealers.
throwerofturds 18 hours ago
Thanks for the info, but you might want to edit your vid. Your address is clearly visible
alabe28 1 month ago
@alabe28 Thanks for the heads-up, Youtube won't let me edit due to number of views, tried a couple time, but its just a postal address, and anyone who would have ever ordered from me in the past would have that address as a return address, 100's of people. No Bullion kept there, plus I have an updated postal address now as the video is quite old, so that is someone else's place now. Thanks again though, Jim
BuchanBullBullion 1 month ago
Great video. I imported from Apmex and Fedex is holding the order due to brokerage fees. Sounds like I should pay it and all should be well, as mentioned in the video they fill out the forms correctly so that it passes tax free? Previously I ordered from a Canadian company this feels much better this time around is a little unnerving. Do I have anything to worry about? It's coming to Ontario.
Brucejosephlive 6 months ago
Great Video. Thanks for all of your help. I am going through all of this at customs as we speak.
nmurray13 9 months ago
Thank you for the post. I do have another question. I see the form states that this is for the provincial tax portion of the HST. What about the 5% GST itself on Bullion Gold and Silver. When I called customs and asked them if I brought Gold and Silver across the border they told me I wold have to pay the 5% GST. I asked if they were Canadian mint and then they said no. Would love some documentation to present to them that I don't need to pay GST on Bullion when i cross. Any Link? Thanks
TheRandian1 10 months ago
@TheRandian1 As far as I know it has to do with the purity and no the Country of manufacturing; although, I could certainly be wrong. I bring a lot of silver across the boarder, and as long as my supplier properly fill out the customs docs with the appropriate code I never get hit with any taxes or duties--it comes to my door free.
BuchanBullBullion 10 months ago
@TheRandian1 From my research the taxation rules are based upon the definition of investment grade bullion vice collector items, with .999 or higher purity being considered investment grade, thus non-taxable. CBSA and CRA expect you to file a capital gain or loss when you dispose of your purchase, so theoretically it would really be double-taxation to charge taxes up front and at end. It is very hard to get a clear answer from anyone--I have tried!! In my experience the code works great w. CBSA.
BuchanBullBullion 10 months ago
@TheRandian1 Oh and I should also mention that if your silver came across the boarder and the incorrect HS Tariff Codes were applied you are able to claim back the duties and taxes paid. It takes about 5-6 weeks, and you just follow the instructions on the back of the CBSA invoice. They require some documentation saying what the codes were, and what the code should have been, and how much of a refund you should get. takes time, but works well.
Thanks for watching and comments!
All the Best,
Jim
BuchanBullBullion 10 months ago
@BuchanBullBullion Thanks for your replies, I really appreciate it.
After doing some further looking thanks to your points there is a document titled 17.1 Definition of “Financial Instrument” (do a search, can't seem to post link)
Seems to be a bulletin on how certain financial instruments are
categorized. When I cross the border I plan on bringing both
documents and hopefully that will be enough.
Once again thanks.
TheRandian1 10 months ago
Hey has anyone heard of Tom Greco? He has an alternative idea about a reformed monetary system kind of like a barter system but with credits(not debt) that can be exchanged between productive members of society. Is pretty fascinating alternative than simply backing money with scarce gold. If anyone is interested they should look him up. New ideas like have a true unlimited potential!!
charronfamilyconnect 1 year ago
Thanks for the info
Alexiscom1 1 year ago
I want to buy an apartment in Vancuver and I live in N.Y. Once I get my pad, how can I transport my silver to my apartment without paying any taxes. Thanks alot and great channel. I have been subscribed for 2 months or so.
airconditionerking 1 year ago
@airconditionerking Hi, I think this will depend on your citizenship status . I am not too familiar with the US export laws, but Canadians can transport up to $10K cash, bullion without having to pay any taxes. If you get caught trying to transport more they have the right to confiscate everything.
Some countries are starting to get restrictive on PMs leaving the country, so I would really recommend confirming if it is a State or Fed. issue first(in Can it's Fed.) then look for Regulation/Laws
BuchanBullBullion 1 year ago
: )
ECTBWHO 1 year ago
Comment removed
2011endgame 1 year ago
When I ordered silver from Scottsdale Silver from the US, I got taxed through FedEx when it hit the border. Its happened several times. I think some brokers or shippers don't know or don't care about the tariff codes.
mostlymichaelcanada 1 year ago
@mostlymichaelcanada I have actually heard a similar story from a shipment with Scottsdale, and it would usually be Scottsdale job to enter the code on the documents. A friend of mine told me when this happened to him he contacted Scottsdale and somehow they worked the taxes out and he was refunded. Maybe I can get him to post about his experience and what he did.
Another issue is that a lot of carriers will not carry or clear bullion(UPS for sure), so if shipping with them can not label it.
BuchanBullBullion 1 year ago
Comment removed
2011endgame 1 year ago
@mostlymichaelcanada I too order from Scottsdale Silver. The shipper (his name is Davis) is now enclosing a letter with each order to Canadian Customs people stating that the order enclosed is silver bullion which is part of NAFTA and he quotes the Excise Tax exempt number. My most recent order from them came through with no problem. Cheers
2011endgame 1 year ago
This is very informative! Thank you for your time doing this!
dijibeat 1 year ago