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Decalaration of Gold ?

Discussion in 'Canadian Finance and Taxation' started by Shantder, Jul 11, 2018.

  1. Hello
    I just arrived to canada for the first time a week ago
    I declaired the amount of money i had with me
    When i came to declairing gold, the officer asked me how much you have ? I said 100 gram personal jewellry not coins or swiss ounces… suddenly he said no need to declare that kind of ammounts!! Is this normal ??! Thank you
     
  2. what is the issue? 100 g is nothing anyways
     
  3. I will have to see them soon, won't they ask me where the cash came from ?
     
  4. Sell*
     
  5. Hi

    we dont plan to take any additional gold but only what we wear daily like a thin chain, wedding ring etc. Would we have to declare this? How much can we take to not have to declare hence not taxable
     
  6. As long as your jewelries' document and photographs have been validated by CBSA before your traveling, you can bring as much as you like without worry if duties would be payable.
     
  7. sounds good. So there is no tax at all? I dont know why i keep reading and people keep telling its tax free for a year
     
  8. Any source to that? Mind you, however, selling personal items including jewelries need to be report in your annual Canadian tax return and pay tax.
     
  9. hello @steaky ,

    How can we have the CBSA validation? when you say jewelries documents, do you mean the invoices/receipts? what if you don't have anymore the receipts?

    Your input is highly appreciated.
     
  10. 1) You download the form from the website, complete it with your details and show it to the customs officer. He/she will stamp it. I suggest you read the guidelines for importing personal items.

    2) Then take the items to a jeweler for valuation and get a report.
     

  11. @steaky ,

    Thank you, I understand now what you mean.
     

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