Hi, I’m Kartik. I and my wife did a soft landing in Canada in July 2018 and then got our PR cards in that year itself. Now we planning to move to Canada permanently from USA in April 2020. The GTF (goods to follow) that we got stamped had my old car listed that was 4 years old at that time. However, it got mechanical problems beyond repair in mid 2019 and I donated it and bought a new car. I want to bring new car when we move to Canada permanently since selling it at depreciated value would be money thrown away. Since new car is not in GTF, would I need to pay any tax or duty on it to bring there? Is there a way I can estimate how much that would be? It’s a regular sedan but it’s value is a lot more than the value I had listed in the GTF for my old car. Please advise. Thanks in advance.
Hi @katz , please let me know if you find out. I am in same situation
I don’t have first hand experience yet but on searching through the forum, it looks like the answer is that updating the GTF is not possible and you would have to pay duty on value over CAD 10k for the new car.
See this link. Also saw it indirectly mentioned in couple other posts as well. Hope that answers your question.