Goods imported into Canada for no more than 12 months are classified as temporary imports. Importers can apply for an extension of the 12 month period.
For example, Disney ships truckloads of equipment into Canada for its Disney on Ice shows. Even though the ice rink materials, costumes and props are not for sale in Canada, these show goods are treated as temporary imports for which a security deposit is payable.
The customs broker or importer must post security that covers the full amount of both duties and taxes payable for the temporary imports. Bonds, cash, certified cheques and travellers cheques can be used for used to pay the security deposit.
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