Canadian Dollar At $0.9639 USD

[Old Yeller]

Originally Posted by Fobby

My experience, (Total Claimed value - 200/400 dollars) *6%.

Is that just some 6% duty figure or the GST?

And yeah, good point Photon. Obviously this is just a spur of the moment type idea, but I'll have to investigate that a little further. I know purchasing it on mastercard will automatically give me a one year warranty if I did that in Canada, but I'm not sure if that's the case cross border. Plus I can't see store warranty being honored as that store doesn't even exist up here...

Plus it would really suck if I had to make a 6 - 7 hour drive if the TV broke.

Hmmm this idea might need some re-evaluating, anyways, sorry for the de-rail all, back to your regularly scheduled US dollar tanking - joined in progress.

[ken0042]

Most non-NAFTA made items (USA or Mexico made) are around 3-5% duty; plus GST.

Any NAFTA made items over your limit are 6% GST only.

[ken0042]

And TD just lowered their buy rate for US dollars again. Now at 1.0349

Dollar closes at 98.64US. Up about 1.3¢ in just one day.

[Dion]

Originally Posted by ken0042

And TD just lowered their buy rate for US dollars again. Now at 1.0349

Dollar closes at 98.64US. Up about 1.3¢ in just one day.

RBC is quoting 1.0352.

[Burninator]

These numbers you guys keep giving that are over a dollar, what does that mean?

[Nehkara]

Originally Posted by Burninator

These numbers you guys keep giving that are over a dollar, what does that mean?

That is how much it takes in Canadian Dollars to buy US Dollars.

[ken0042]

Exactly. So a Canadian dollar being worth 98.64¢ US would mean that a US dollar would be worth $1.0138 CDN. So the banks are charging about 2% for the currency exchage.

[Burninator]

Ah okay. I wasn't getting why the trading value wasn't the same as the bank numbers. Makes sense now.

[jharp]

Why does the US cutting the Fed Rate effect our dollar so much?

[Freeway]

Originally Posted by jharp

Why does the US cutting the Fed Rate effect our dollar so much?

A lower interest rate in the US discourages savings in the US and encourages borrowing and spending. A comparatively interest rate in Canada encourages people to borrow money in the US, convert it into Canadian dollars and then lend it at the Canadian rate (or save it, or otherwise invest it in Canada).

[MacDougalbry]

Originally Posted by Old Yeller

Dumb question, but how much is duty then when you go over the $200 or $400 limit?

The Panasonic TH50PX75U is $1499 on that Vanns site in Montana which works out to be a whole $1520 Canadian. Up here they're still charging around $2200 for it... if the duty wasn't so bad I'd take the time and drive down there to pick one up.

Heck I'd even gas up down there as gas is the equivalent of .75 cents a litre.

I think you mostly just have to pay the GST... which you'd have to pay in Calgary anyway. And with the dollar being at par, you can more or less consider these prices as being local prices. (EDIT: Just saw the other message about 5% duty... missed a whole page of new messages.)

FYI, Kalispell is only 400Km on the Going To The Sun Road, but the road is closed in winter and has a really low speed limit in summer. (And you have to pay for a park permit as well, even if you are just driving through.) There is a route that goes around the South end of the park which should be open in winter... it is further, but probably takes the same amount of time.

[jharp]

Originally Posted by Freeway

A lower interest rate in the US discourages savings in the US and encourages borrowing and spending. A comparatively interest rate in Canada encourages people to borrow money in the US, convert it into Canadian dollars and then lend it at the Canadian rate (or save it, or otherwise invest it in Canada).

And this is prevelant enough to raise our dollar that substantially? With the rate still lower in Canada, why would people not take out money here to lend here?
Thanks for the answers, btw, I find economics very interesting but I never progressed very far with them in school.

[Eagle Eye]

Sorry for one more stupid question.

So if I bring goods worth less than $400 dollars (excluding liquor and tabacco) I do not have to pay duties or GST? and if I bring goods worth more than $400 I only have to pay GST (if it is manufactured in the US or Mexico)?

[albertGQ]

To find out how much Cdn$ it takes to buy one US$, you just take the reciprical of the figure you see on TV that is commonly reported

[Nehkara]

Originally Posted by jharp

And this is prevelant enough to raise our dollar that substantially? With the rate still lower in Canada, why would people not take out money here to lend here?
Thanks for the answers, btw, I find economics very interesting but I never progressed very far with them in school.

I am by no means an expert but since the dollar was already rising rapidly, I think it was like throwing gasoline on a bonfire.

[ken0042]

Originally Posted by Eagle Eye

So if I bring goods worth less than $400 dollars (excluding liquor and tabacco) I do not have to pay duties or GST? and if I bring goods worth more than $400 I only have to pay GST (if it is manufactured in the US or Mexico)?

So, if you bring back $500, and at least $100 of it was manufactured within NAFTA, you will owe $6 for GST, ad possibly $3-5 for duty.

Which means that $1400 TV- if it was assembled in Mexico you will have to pay $60 to bring it back across.

Originally Posted by albertGQ

To find out how much Cdn$ it takes to buy one US$, you just take the reciprical of the figure you see on TV that is commonly reported

Yeah, or you could just take 1 and divide it by whatever number they give.

[Bertuzzied]

Originally Posted by albertGQ

To find out how much Cdn$ it takes to buy one US$, you just take the reciprical of the figure you see on TV that is commonly reported

too bad you can never buy it at that rate with the banks.

[Finner]

Originally Posted by jharp

And this is prevelant enough to raise our dollar that substantially? With the rate still lower in Canada, why would people not take out money here to lend here?
Thanks for the answers, btw, I find economics very interesting but I never progressed very far with them in school.

One of the major factors is foreign investors.

With a lower rate, less foreign investors are going to buy debt in the united states. It makes our dollar far more attractive for a foreign investor who wants to have money in a stable western country.

[Freeway]

After 9/11, the US was dealing with low economic output and lowered their rate (via printing more money) to try to spur more spending. It didn't work initially, so they printed more and more money.

After that didn't work, the increased government spending associated with the Afghanistan and Iraq wars increased overall spending a bit, but theoretically crowded out some non-governmental spending.

The end result, however, was that the US had larger deficets and higher inflation than before. And that was BEFORE the recent economic downturn.

[redforever]

Originally Posted by MacDougalbry

I think you mostly just have to pay the GST... which you'd have to pay in Calgary anyway. And with the dollar being at par, you can more or less consider these prices as being local prices. (EDIT: Just saw the other message about 5% duty... missed a whole page of new messages.)

FYI, Kalispell is only 400Km on the Going To The Sun Road, but the road is closed in winter and has a really low speed limit in summer. (And you have to pay for a park permit as well, even if you are just driving through.) There is a route that goes around the South end of the park which should be open in winter... it is further, but probably takes the same amount of time.

Go down through the Crowsnest and enter the USA at Eureka. Then you are only a hop, skip and jump to Kalispell and much faster than going over the Logan Pass. It is a gorgeous drive, but it is slow and it is only accessible 3 or 4 months of the year.