Canadian buying an American Boat
 

What are the Canadian tax implications for a Canadian purchasing:
(a) a Canadian registered vessel
(b) a non-Canadian registered vessel

Assume that the vessel will reside in Canadian waters and the vessel
owner is a Canadian resident (for tax purposes).

I'd appreciate the benefit of the experience of others who have had to
face the RevCan (CCRA) challenges. Is there a web address that might
summarize the various scenarios?

Thanks in advance,
WRC

Canadian buying an American Boat
 

On Thu, 12 Feb 2004 19:16:06 GMT, in message

Rosalie B. wrote:

(Gould 0738) wrote:

Why register it? Why not just document it in Canada? Do you have to
take it to Canada to do that?

If you are going to take it down to the Caribbean or something,
wouldn't documentation be better than registration anyway?

Can't speak for all 50 states, but a good many (such as the one where I live)
require state registration of a documented vessel.

I'm a Canadian but I may not be able to fly a Canadian Flag on my boat.

So I was answering how he could fly a Canadian flag on his boat
without registering it in Canada. I don't know whether a Canadian
documented boat has to be registered in any state in the US. That's
another question which is too complicated for me.

A further complication is that there are two options in Canada and the
names are different than in the US. "Registration" is the formal,
somewhat expensive process that covers anything from a modest cruiser
on up to a full sized ship. "Licensing" is the small vessel version
that requires numbers on the bow. Both are administered by the federal
government and both can lead to payment of provincial and federal
taxes. In practice, neither one requires the vessel to be in Canada to
complete the paperwork.

Ryk

Canadian buying an American Boat
 

On Thu, 12 Feb 2004 19:16:06 GMT, in message

Rosalie B. wrote:

(Gould 0738) wrote:

Why register it? Why not just document it in Canada? Do you have to
take it to Canada to do that?

If you are going to take it down to the Caribbean or something,
wouldn't documentation be better than registration anyway?

Can't speak for all 50 states, but a good many (such as the one where I live)
require state registration of a documented vessel.

I'm a Canadian but I may not be able to fly a Canadian Flag on my boat.

So I was answering how he could fly a Canadian flag on his boat
without registering it in Canada. I don't know whether a Canadian
documented boat has to be registered in any state in the US. That's
another question which is too complicated for me.

A further complication is that there are two options in Canada and the
names are different than in the US. "Registration" is the formal,
somewhat expensive process that covers anything from a modest cruiser
on up to a full sized ship. "Licensing" is the small vessel version
that requires numbers on the bow. Both are administered by the federal
government and both can lead to payment of provincial and federal
taxes. In practice, neither one requires the vessel to be in Canada to
complete the paperwork.

Ryk

Canadian buying an American Boat
 

On Wed, 18 Feb 2004 08:01:50 +0000, Ryk wrote:

On Thu, 12 Feb 2004 19:16:06 GMT, in message

Rosalie B. wrote:

(Gould 0738) wrote:

Why register it? Why not just document it in Canada? Do you have to take it
to Canada to do that?

If you are going to take it down to the Caribbean or something, wouldn't
documentation be better than registration anyway?

Can't speak for all 50 states, but a good many (such as the one where I live)
require state registration of a documented vessel.

I'm a Canadian but I may not be able to fly a Canadian Flag on my boat.

So I was answering how he could fly a Canadian flag on his boat without
registering it in Canada. I don't know whether a Canadian documented boat has
to be registered in any state in the US. That's another question which is too
complicated for me.

A further complication is that there are two options in Canada and the names are
different than in the US. "Registration" is the formal, somewhat expensive
process that covers anything from a modest cruiser on up to a full sized ship.
"Licensing" is the small vessel version that requires numbers on the bow. Both
are administered by the federal government and both can lead to payment of
provincial and federal taxes. In practice, neither one requires the vessel to be
in Canada to complete the paperwork.

Ryk

I tried to "register" Far Cove when I bought it years ago. Among other
things, you requi
- "papers" verifying customs, etc. into Canada
- a note from the mfr saying iirc that they no longer want it
- and, since "registration" officially means allowing the Queen to use it in
her navy, a note from the US gov't saying they don't want it.

In other words, I HIGHLY doubt you could register a vessel without importing
it into Canada. (Unless things have changed A LOT in 15 years!)

OTOH, I suspect you can license it. They seem pretty lax about that.

Lloyd Sumpter
"Far Cove" Catalina 36

Canadian buying an American Boat
 

On Wed, 18 Feb 2004 08:01:50 +0000, Ryk wrote:

On Thu, 12 Feb 2004 19:16:06 GMT, in message

Rosalie B. wrote:

(Gould 0738) wrote:

Why register it? Why not just document it in Canada? Do you have to take it
to Canada to do that?

If you are going to take it down to the Caribbean or something, wouldn't
documentation be better than registration anyway?

Can't speak for all 50 states, but a good many (such as the one where I live)
require state registration of a documented vessel.

I'm a Canadian but I may not be able to fly a Canadian Flag on my boat.

So I was answering how he could fly a Canadian flag on his boat without
registering it in Canada. I don't know whether a Canadian documented boat has
to be registered in any state in the US. That's another question which is too
complicated for me.

A further complication is that there are two options in Canada and the names are
different than in the US. "Registration" is the formal, somewhat expensive
process that covers anything from a modest cruiser on up to a full sized ship.
"Licensing" is the small vessel version that requires numbers on the bow. Both
are administered by the federal government and both can lead to payment of
provincial and federal taxes. In practice, neither one requires the vessel to be
in Canada to complete the paperwork.

Ryk

I tried to "register" Far Cove when I bought it years ago. Among other
things, you requi
- "papers" verifying customs, etc. into Canada
- a note from the mfr saying iirc that they no longer want it
- and, since "registration" officially means allowing the Queen to use it in
her navy, a note from the US gov't saying they don't want it.

In other words, I HIGHLY doubt you could register a vessel without importing
it into Canada. (Unless things have changed A LOT in 15 years!)

OTOH, I suspect you can license it. They seem pretty lax about that.

Lloyd Sumpter
"Far Cove" Catalina 36