Quote:
Originally Posted by jdmcm
No taxes on "used" items coming into Canada? I beg to differ...I have imported several "used" tanks and paid taxes on all of them...as well as any associated used parts...there is no shortage of tax on used items coming into Canada...I don't see why these medals would be any different...
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IMHO, jdmcm is correct. A buyer would pay thirteen percent harmonized tax in Ontario.
No HST
on items being exported. from Canada. HST of 13% = 5% federal plus 8% provincial sales tax.
The London, UK based auction house charge 20% on the hammer.
There are VAT tax implications for items destined within the EU that may not be required to be paid by a Canadian based buyer.
An atypical sale with the action house located in the U.K., requiring payment in Pounds Sterling, the sale item located in Canada?
There appears to be public funds available to designated organizations to assist with the purchase of Canadian cultural heritage moveable property, including the purchase at auction of such an item. The Canadian War Museum is named in the designated list. A non designated organization may also apply for funds. Pubic vs private funds. Ah, Tony S.: not only will a Canadian private bidder have taxes and fees to pay, . . . will they also bid against their own tax dollars?
Past recorded sales:
See:
http://www.victoriacross.org.uk/aaauctio.htm
A former sale of a VC awarded to a Canadian:
See:
http://www.victoriacross.org.uk/bbshankl.htm
I wonder who authenticates the actual item to verify it has not been replaced by a copy? Not to suggest any impropriety in any manner what-so-ever, but I expect a buyer would want some assurance before signing over the estimated value plus what may amount to somewhere between 33% to 40% hammer and sales tax, before any foreign currency exchange as applicable.
How many original Canadian VC awards have been reported as stolen in the Province of Ontario, Canada? Was it three? One from the RCR museum, London, Ontario, one from the Royal Canadian Military Institute in Toronto, Ontario, the third from the Canadian War Museum, Ottawa, Ontario, since recovered in Hamilton, Ontario. Imagine covering a theft by substituting the original item with a copy.