Hi
Hello everybody,
Congrats for a very informing forum!
We will be landing next week in Vancouver (it took 5 years!!!) ; it will be our first time in Can, after a week we'll return to US where I am under contract;
Will definitively move to Canada next year. We would like to "preview" Vancouver first (we heard so much about its beauty!), and then visit Toronto next year, to look for accommodation and jobs before we actually settle in.
Would appreciate any DETAILS about landing documentation.
1) Obviously we won't bring in any personal or household items when landing. Me and my husband are stuff maniacs (clothing and shoes) and we have a ton of it (almost literally!), do we really have to list each and every piece of garment on form B4 ???;
No, you list as x boxes used clothing x dollars, a reasonable estimate. Electronics, serial no. and approx used cost, check out craigslist if you want to be fairly close. Valuable jewelry should have pictures and valuation, especially if you are bringing them later.
I am not even sure how to identify the items, since the first thing I do when I bring the stuff home is to cut the labels; I don't know how to report the price(cost)... Also the jewelry, should I list all custom and silver items, or just the gold ones would suffice?
We are not planning to bring in any furniture, but we might change our minds after checking out the prices in Can (we have paid a fortune on a mattress but we now sleep like on a cloud!), can I include it on the list, even if we may chose not to bring it in later, or not?
If you list it on the B4 and don't bring it, Customs doesn't care. If you don't list and then bring it, you may pay duty (unlikely on a used matress)
2) Also, and the most important: we own a property in Eastern Europe that is now under the litigation and we cannot yet sell it, we have included it as an asset on our PR application, will we have to pay taxes in Can on the proceedings of the house sale (let's say one or two years later) when we will finally be able to sell it?
You will have to pay capital gains tax on the difference from its value when land and the price when you sell. Talk to an accountant when you finally settle in Canada.
3) As per info we could get, in this first year (2007) we won't have to pay taxes in Can, since we pay in US (where I still work), however do you advise to get our SIN in our first visit in Vancouver, or we can take care of it on our next trip to Canada. Is SIN province specific?
You don't need the SIN unless you immediately intend to work (also you need a Canadian address to receive it) or you are opening an interest bearing account.
Many thanks in advance for taking your time to read and reply!
Happy (not yet) new Canadian!
PMM
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