US/Canadian border

[lovegem]

I have some questions re. crossing the border with a diamond.

We are buying a diamond from GOG and my bf is taking it back to Canada for me. I remember I read it on the news paper long time ago that there is no tax on a loose diamond when cross the border. Is it true? Is there a upper limit on the cost of the stone that you are allowed to bring back? How do you declare the diamond? Do you tell the custom officers when they ask you about it, or is there a form you have to fill it out? This is our first time actually "shop" in US and bring the thing to Canada. So we do want everything to be smooth.

Secondly, it is the first time I see the stone in person. Just in case if I didn''t like it, how easy it is to have the stone taken back to US and have it refund (crossing the US border)? GOG has a 30 days refund policy.

 

[Dreamer_D]

When you get to the border, tell them you have a diamond to declare. You will need to enter the customs office and fill out a form and show all your paper work. They will charge you GST and PST (if in Ontario, other provinces vary), but there are no duties anymore on jewelry or loose stones. There is no upper limit that I know of for importing, it will just increase the taxes

I think you should go with you bf to see the stone and approve it before you come back to Canada. I think there is a method to recoup the taxes you paid to import the stone if you opted to return it, but it will be a big PITA. But it is possible as far as I know.

 

[lovegem]

Thanks dreamer.

13% tax on the diamond (yes, Ontario for us)? That will change our plan. I should go down to check it out in person for sure. I always thought no duty means no tax. I have no idea.

 

[girlie-girl]

The Canada Border Services Agency site may be of some use to you as well. If you can't find the details listed there you can always call.

Good luck and what a fun thing to do!

 

[canuk-gal]

Date: 6/28/2008 3:18:28 PM
Author: lovegem
Thanks dreamer.

13% tax on the diamond (yes, Ontario for us)? That will change our plan. I should go down to check it out in person for sure. I always thought no duty means no tax. I have no idea.

HI:

"Duty" used to mean "excise tax". That was dropped--but not the GST and in some Provinces, PST.

cheers--Sharon

 

[Dreamer_D]

Date: 6/28/2008 3:18:28 PM
Author: lovegem
Thanks dreamer.

13% tax on the diamond (yes, Ontario for us)? That will change our plan. I should go down to check it out in person for sure. I always thought no duty means no tax. I have no idea.

Yeah, it means you should probably check it out first, but even with the extra 13% the prices in the US are much less than the prices in Canada, in my experience, especially from a reputable source with a grea ttrade-up policy like GOG. You can get grea tAGS and GIA stones in Canada, but you pay a premium OR need to live with a no-trade-up policy.