I have a leased car in the usa that i am thinking of purchasing but haven't purchased it yet. Can i include that in the B4 form although its not technically mine yet. Also what would happen if i do mention it on the B4 form and then do not buy it. Would i have to pay a penalty for it?
While there is no penalty if you include items on the B4 and then change your mind and don't end up importing them, the issue is that you must have owned, used, and possessed the items on your B4. In fact, the B4
(which you'll need to sign) states right above the signature box:
"Settler (Tariff item No. 9807.00.00)
I hereby declare that I have read and qualify for the provisions of tariff item
No. 9807.00.00 and that:
1.I am entering Canada with the intention of establishing, for the first time, a
permanent residence for a period in excess of 12 months and I arrived in
Canada on __________________ .
2.With the exception of wedding gifts, bride's trousseau, alcoholic beverages and
tobacco products described in the Tariff Item No. 9807.00.00 Exemption Order, all
household and personal effects imported or to be imported by me under this
tariff item have actually been owned, possessed, and used abroad by me prior to
the date of my arrival in Canada.
3.All goods imported are my personal or household property and they will not be used
in Canada for any commercial purpose.
4.If any item is sold or otherwise disposed of in Canada within 12 months of the
date of its importation, I will notify a CBSA Office of such fact and pay all duties
owing at the time.