As far as i read on the news here in Thailand today, it seems like the removal of the $800 "De Minimis Tax Reduction" is going into effect on August 29th.
Assume it will have an impact on all imports of new engines and parts, but will it also include used collectibles, like older toy steam engines and models...and just how expensive will the tax/duty be?
This may be the end of many small businesses in Canada, this is an example of the records we will now have to keep to qualify under the free trade agreement with the US
Step 6: Keep your records
Keep all documentation supporting the origin for at least 6 years after the exportation of the good. Traders may be audited by CBSA (for imports into Canada) or U.S. CBP (for imports into the U.S).
Suggested documents to keep include:
Certifications of origin
Purchase orders
Bills of materials
Supplier declarations
Costing and production records
All documents that relate to the export of goods
All this to ship a $5.00 length of glass with the risk of a custom agent not accepting the shipment and imposing a hefty fine.
If I buy an engine from a Canadian citizen, say for instance on this site,
and pay for it thru PayPal 'friends and family' do the rules apply? Would
PayPal be required to report it - for future investigation for circumventing
the Canadian rules? Would 'friends and family' work between the US and other
countries?
I ask this because I'm thinking of finding new homes for some of my engines
and I'd like to do it without ebay if possible. I love 'em but the most fun is
finding and making them run.
Just curious,
Wayne
The De Minimis threshold was the "Friends and Family" exclusion for tariffs.
Australia has suspended all parcels to the USA.
If I buy an engine from a Canadian citizen, say for instance on this site,
and pay for it thru PayPal 'friends and family' do the rules apply? Would
PayPal be required to report it - for future investigation for circumventing
the Canadian rules? Would 'friends and family' work between the US and other
countries?
I ask this because I'm thinking of finding new homes for some of my engines
and I'd like to do it without ebay if possible. I love 'em but the most fun is
finding and making them run.
Just curious,
Wayne
From Canada the problem is getting the item across the border through US customs, with proper paper work it may be duty free, or subject to duty depending on classification of item.
My experience was it was a lot harder getting my cash and my own kid into Canada (we were taken inside for 2 hours) than it was bringing a 4’x8’ box back into the US with them just waving me through
I honestly thought it would have been the other way around…