Importing to Canada (#1699)
Paid a Tariff When Importing to Canada? Here's What You Should Know!
That tariff might not be money lost. If you're a business — or even an individual using the item for work — you may be able to deduct it or claim it as part of your cost basis at tax time.
Business use? Claim it as a deductible expense.
Capital equipment? Add to your asset's value for depreciation.
Freelancing or using it for income? It might be deductible.
Personal use only? Likely not eligible.
As always, consult a tax expert or CRA guidelines for your situation. But don’t assume the money’s gone — it could save you on taxes.
For inquiries, Contact us at:
Phone / SMS: 201-442-0091
WhatsApp: (551) 297-7483
Location: USA New Jersey, New York East Coast
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