Good news Canadian shoppers travelling abroad, you can now bring back more goods duty and tax free.
Federal ministers are fanning out Friday to major airports across the country for what’s believed to be a reminder to travellers that, as of June 1, the value of goods that can be brought back duty- and tax-free by Canadians returning from short-term trips abroad will increase dramatically.
The Conservative government announced in the March federal budget it is, effective June 1, increasing the travellers’ exemption limits to $200 (from $50) for trips of more than 24 hours, and boosting it to $800 (from $400) for trips of more than 48 hours.
The exemption limit on trips of more than seven days will increase to $800 from $750.
Every year, Canadians take around 30 million overnight trips outside of the country.
The increases to the exemption limits — the largest in decades — will harmonize Canada’s levels with the United States, but are expected to cost the federal government $13 million in lost revenue this fiscal year and $17 million in 2013-14.
A number of cabinet ministers will be making announcements Friday at airports across Canada, including Joe Oliver (Natural Resources Minister) in Toronto, Ed Fast (International Trade Minister) in Vancouver and Ted Menzies (Minister of State for Finance) in Calgary.
