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 Replies: 20 / Views: 5,735 |
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Pillar of the Community
 Canada
5394 Posts |
If the coin is a USA gold Eagle ......GST or HST is charged plus BC PST under 7118 which is the correct
Tariff Code . All numismatic coins are tariff 9705.00.00.90.
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Pillar of the Community
Canada
2984 Posts |
Pacificoin is correct. In my previous post I said .9999 pure silver and gold bullion is PST/GST exempt which is right until I looked up what a US Gold Eagle is. According to the internet, a US Gold Eagle is 22K gold with 91.6g of gold.
Since it not pure gold, the CBSA assessment is correct. The coin is subject to both GST and PST.
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Pillar of the Community
 Canada
867 Posts |
To clarify, I'm talking a 1904 Liberty Eagle which is 90% Au, 10% Cu, not the more recent bullion coins.
The amount paid in taxes is worth the postage stamp to appeal and I'm hoping for someone in a good mood back in Yarmouth. I'll update the post in a month or so, when I hear back from them.
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Pillar of the Community
Canada
2984 Posts |
Quote:
Was also told that Fed tax (GST) is exempt for Canadian collectors coins and that Provincial taxes are based on the honor system, unless HST (not GST) is collected. GST is exempt only for pure .9999 silver/gold Canadian Collector coins or any pure collector coin from the world. For example, the gold Canada Superman coins are charged GST because they are only 22K. PST is not based on the honor system. it is based on the business being registered to do business in the province where there is PST. If a dealer has no brick and mortar store in the province there is no point in doing the paperwork collecting and remitting PST. |
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Pillar of the Community
Canada
5394 Posts |
On a 1904 20 Dollar, no point in wasting your valuable time .
5 per cent GST and 7 Per Cent BC Tax is what it is .
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Pillar of the Community
Canada
867 Posts |
One other comment on taxes, while GST is not charged on .9999 coins, the RCM charged me 7% PST on the latest Bill Reid .9999 Au coin....  s....oh well, first world ing. |
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Pillar of the Community
Canada
5394 Posts |
Again the PST charge is correct . Since BC Dumped the HST years back , even a pure 999 or better is charged
The PST on any item sold in excess of a simple bullion Surcharge .
Ask any of the Vancouver area dealers who underwent PST audits in 2016 to 2018 .
Wasn't pretty!
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Pillar of the Community
Canada
2984 Posts |
Quote:One other comment on taxes, while GST is not charged on .9999 coins, the RCM charged me 7% PST on the latest Bill Reid .9999 Au coin....s....oh well, first world ing. I gather you don't buy much NCLT coins because ever since BC got rid of the HST, BC PST is charged on .9999 Pure Silver/Gold NCLT coins BUT NOT on .9999 Pure Silver/Gold BULLION coins. The reason for this difference is unclear to me. Perhaps someone can explain it. Also, to longtime NCLT collectors like me and others, there is a loophole to avoid the BC PST on NCLT and that is to buy from out of province coin dealers and not the RCM. Except for the Shopping Channel, dealers outside of BC do not charge PST on NCLT. Gatewest Coins and Canadian Coin and Currency are two of the biggest dealers outside of BC. |
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Pillar of the Community
Canada
1081 Posts |
What @Parklane64 said - 100%
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Moderator
Canada
10458 Posts |
If the item is a Canadian coin - I usually just ask the sender to declare "made in Canada" (even from Heritage Auctions), and so far, it has either worked, or I have been very lucky....
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
1505 Posts |
SPP,
made in Canada does not matter if the item has been previously exported all taxes exempt.
Pacific is correct with the tariff codes.
As mentioned above, I only had one issue with Can coins coming back and that was corrected and refunded without problems.
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Pillar of the Community
Canada
867 Posts |
Well someone at CRA refunds was sympathetic to my plight......  |
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Pillar of the Community
 Canada
1781 Posts |
Congrats and good work.  . "We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
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Pillar of the Community
Canada
1505 Posts |
mmm, this must have been sort of a little bit higher priced Canadian coin for a refund to be nearly $500.  you did say coin, not coins. now u can buy more coins...  |
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Pillar of the Community
Canada
1505 Posts |
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Replies: 20 / Views: 5,735 |
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Posted 09/04/2020 10:33 pm
