B4 FORM PLEASE HELP

[thisdj1]

Hi Peeps can anyone advise me if a Canadian Citizen has been out of the country for a long time and returns are the eliglble to take advantage of the b4 form making you exempt of tax and duties on arrival?

thanks

 

[OhCanadiana]

Hi Peeps can anyone advise me if a Canadian Citizen has been out of the country for a long time and returns are the eliglble to take advantage of the b4 form making you exempt of tax and duties on arrival?

thanks

Yes, except for items valued over 10k, for which you need to pay taxes on the value over 10k when you import them.

You have to have owned, used, and possessed the items for at least 6 months before you import them unless you have been out of the country for 5+ years.

Here are some posts with additional info:




Importing goods duty free
How to import your goods duty free as a settler (or returning Canadian): The B4/B4A story You'll need a B4 and likely at least one B4A form.
Detailed instructions on the B4/B4A from CBSA are at BSF5113 and at BSF5087 .

Importing your vehicle – step by step guide
Process to importing your car
Items to consider as you decide when to import your car

 

[Fencesitter]

What if a Canadian citizen has been residing abroad for more than 10 years? What if the Canadian has in excess of CAD$40,000 in cash to bring back? Would the citizen need to pay taxes? Also, would a Canadian child be able to carry CAD$10,000 without being taxed? I was thinking of giving my wife (the PR) CAD$20,000, our son carries CAD$10,000, and I take another CAD$10,000. We would report the amount my wife takes, as it is over CAD$10,000....

As for importing our belongings...we're only going to take our computers (including Macbook, ipad, iphone x 2, external HD x 2, NDSi), wedding rings, clothing, some baby products, suitcases, and a few other odds and ends.

We will also have our son's highchair shipped after we land, and also my golf clubs.

We're taking our two dogs with us as well, and from what I have gathered, we should put them down on the B4 form...but what about the highchair and golf clubs...which form do we use for items that will follow after we have landed?

The cash is my main concern, as I do not want to be taxed again (I've already paid income tax in China).

If anyone knows the best thing to do, please post!

Thanks,

FS

 

[Lasiar]

Hi guys, bit of help plz.. this seems so straight forward filling out the B4 & B4A.. ok I listed all goods to follow on the B4A form including vehicles/conveyences.. but I see on the B4 form it has a place for them, but the vehicles are not coming at this point so what do I do?.......leave it blank on the B4 and listed on the B4A form as I have it? as well as the goods he is bring the first trip which isnt much are not stayin here so do they get listed on goods to follow B4A? and also on the B4? .. just abit confused. Oh and also the importers address, is my hubby of course but does he put his address in the us or the one he will be moving to, which is mine here in canada?

 

[steaky]

What if a Canadian citizen has been residing abroad for more than 10 years? What if the Canadian has in excess of CAD$40,000 in cash to bring back? Would the citizen need to pay taxes? Also, would a Canadian child be able to carry CAD$10,000 without being taxed? I was thinking of giving my wife (the PR) CAD$20,000, our son carries CAD$10,000, and I take another CAD$10,000. We would report the amount my wife takes, as it is over CAD$10,000....

As for importing our belongings...we're only going to take our computers (including Macbook, ipad, iphone x 2, external HD x 2, NDSi), wedding rings, clothing, some baby products, suitcases, and a few other odds and ends.

We will also have our son's highchair shipped after we land, and also my golf clubs.

We're taking our two dogs with us as well, and from what I have gathered, we should put them down on the B4 form...but what about the highchair and golf clubs...which form do we use for items that will follow after we have landed?

The cash is my main concern, as I do not want to be taxed again (I've already paid income tax in China).

If anyone knows the best thing to do, please post!

Thanks,

FS

No taxes payable to Canada in this situation. Just be sure to declare them when your wife is landing, otherwise it could be seized. BTW, have you checked with the mainland whether they let you taking the money outside the country? I heard they have strict remittance and monetary policies about that.

You don't have to list your dogs and its kennels in the B4. CBSA told me this before I bring mine to Vancouver at the end of last year.

Use the B4 for the highchair and golf clubs.

Hi guys, bit of help plz.. this seems so straight forward filling out the B4 & B4A.. ok I listed all goods to follow on the B4A form including vehicles/conveyences.. but I see on the B4 form it has a place for them, but the vehicles are not coming at this point so what do I do?.......leave it blank on the B4 and listed on the B4A form as I have it? as well as the goods he is bring the first trip which isnt much are not stayin here so do they get listed on goods to follow B4A? and also on the B4? .. just abit confused. Oh and also the importers address, is my hubby of course but does he put his address in the us or the one he will be moving to, which is mine here in canada?

1) You can still put the vehicles in the form. As long as the B4A is not completed, you can still ship items not yet arrived in Canada;
2) I put my Canadian address for the importer address.

 

[canadiangirl78]

Yikes, I didn't think about our savings. I didn't put our savings on my b4 when I reestablished residency because I wasn't bringing any money with me. What do I do now? Should my husband claim it? We already paid US taxes on it. We were just going to do an international wire transfer right before we left for Canada.

 

[OhCanadiana]

Yikes, I didn't think about our savings. I didn't put our savings on my b4 when I reestablished residency because I wasn't bringing any money with me. What do I do now? Should my husband claim it? We already paid US taxes on it. We were just going to do an international wire transfer right before we left for Canada.

Don't worry! The B4/B4A Personal Effects Accounting Documents are for items you own, not cash.

You only need to declare funds if you are carrying more than $10,000 Canadian or equivalent (in the form of cash, securities in bearer form including stocks, bonds, debentures, treasury bills or negotiable instruments in bearer form including bankers’ drafts, cheques, travelers’ cheques or money orders).

If you wire the funds (which most people prefer to do, rather than carrying the currency since it can't be stolen on the way), then the banks handle the reporting for you of the transaction if you send more than $10k at once.

Either way, you don't need to pay taxes on the money you are moving itself when you import it (although you will of course have to declare future income on the money ... interest, capital gains, whatever depending on the specifics) and as long as you got the money legally you should be fine

Your husband can keep his B4 for the wonderful gift he'll get for your baby before landing 8)

 

[OhCanadiana]

Hi guys, bit of help plz.. this seems so straight forward filling out the B4 & B4A.. ok I listed all goods to follow on the B4A form including vehicles/conveyences.. but I see on the B4 form it has a place for them, but the vehicles are not coming at this point so what do I do?.......leave it blank on the B4 and listed on the B4A form as I have it? as well as the goods he is bring the first trip which isnt much are not stayin here so do they get listed on goods to follow B4A? and also on the B4? .. just abit confused. Oh and also the importers address, is my hubby of course but does he put his address in the us or the one he will be moving to, which is mine here in canada?

The B4A is just a continuation of the B4 (the B4 has all your biographical info and you don't repeat it on the B4A). I would put the vehicles on the vehicle-specific section of the B4 since they have a specific format and section. Check the check box for goods to follow both on that form (middle of page toward the right) and on the B4A forms (top right).

I second the comments above that the address is your Canadian address Exciting times, eh?

 

[canadiangirl78]

What happens if it's more than 10k at once? Into my Canadian bank?

I'll let my husband know about this customary gift.

 

[OhCanadiana]

What happens if it's more than 10k at once? Into my Canadian bank?

I'll let my husband know about this customary gift.

If it's a wire, the banks will generate all the reports (you won't be any wiser) to the US and Canadian governments - the amount doesn't matter. It's all part of anti-money laundering, etc. efforts.

 

[canadiangirl78]

If it's a wire, the banks will generate all the reports (you won't be any wiser) to the US and Canadian governments - the amount doesn't matter. It's all part of anti-money laundering, etc. efforts.

Easy peasy! Thanks!

 

[Fencesitter]

But if you wire transfer the money will the banks report the deposit(s) to CRA? I mean, how will the bank know that you have been non-resident for tax purposes and that the deposit(s) are from sources earned while working abroad? Or do they even care?

I want to take cash, but it might be a problem in China as the max amount you can take out is USD5,000.

What about minors? Can they hold currency or do you have to be an adult? In other words, could we put a money belt on our son with USD5,000 when we go to leave China?

Thanks,

FS

 

[canadiangirl78]

But if you wire transfer the money will the banks report the deposit(s) to CRA? I mean, how will the bank know that you have been non-resident for tax purposes and that the deposit(s) are from sources earned while working abroad? Or do they even care?

I want to take cash, but it might be a problem in China as the max amount you can take out is USD5,000.

What about minors? Can they hold currency or do you have to be an adult? In other words, could we put a money belt on our son with USD5,000 when we go to leave China?

Thanks,

FS

LOL! I would not trust my toddler with $5000. =)

 

[Fencesitter]

Haha...actually, I would strap something around his tummy...but now that you mention it, he'd probably find a way to open it and destroy all the money! I caught him reaching outside the crib and grabbing his diaper bag, trying to pull it into his crib!! I should never underestimate him!!

I'm not sure how I'm going to get the money back home...the main problem is getting more than USD5,000 out of China. That said, I have been through the border many times and never once have they asked about money...in fact, they never ask ANY questions...so I'm guessing it will be fine, plus I will get bank statements from the bank showing my employer's salary deposits, my income tax statements, and anything else that can prove that this is money saved after working in China for a number of years...

If all else fails, I will either wire transfer or western union the money back to Canada...I just don't want the Canadian government getting their hands on my hard-earned cash! And I've already paid taxes on it here in China...plus with non-residency status, I am pretty sure I can bring back my savings without paying tax, though I still haven't found the exact info on any of the Canadian government websites...

FS

 

[sam pk]

Don't worry! The B4/B4A Personal Effects Accounting Documents are for items you own, not cash.

You only need to declare funds if you are carrying more than $10,000 Canadian or equivalent (in the form of cash, securities in bearer form including stocks, bonds, debentures, treasury bills or negotiable instruments in bearer form including bankers' drafts, cheques, travelers' cheques or money orders).

If you wire the funds (which most people prefer to do, rather than carrying the currency since it can't be stolen on the way), then the banks handle the reporting for you of the transaction if you send more than $10k at once.

Either way, you don't need to pay taxes on the money you are moving itself when you import it (although you will of course have to declare future income on the money ... interest, capital gains, whatever depending on the specifics) and as long as you got the money legally you should be fine

Your husband can keep his B4 for the wonderful gift he'll get for your baby before landing 8)

DEAR please be advise i have 5000CAD cash as a show money but my requirement is 14000CAN$ but i have financial protected note(Bank saving certificate) which is equal to 14000CAN$ can it will acceptable as a show money if it is then i will declare on declaration card