New free trade deal with U.S. will see Canada's duty-free limit raised to $150 from $20 - News Summed Up

New free trade deal with U.S. will see Canada's duty-free limit raised to $150 from $20


Mexico agreed to raise its limit to $100 US from $50 previously, when officials agreed to their portion of the free trade deal in August. Canada appears to have made a similar move, raising the de minimis threshold for duty-free purchases to $150. Far more important than the new duty-free limits, Littler says, are the thresholds at which sales taxes will be levied. The new rules will see those two figures decoupled from each other, and the tax threshold will rise to $40. "If you have to choose, push the [de minimis threshold] on duties up higher … but then push the sales tax threshold down," he said.


Source: CBC News October 01, 2018 17:37 UTC



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