1) is it true that we do not pay taxes on any jewelry which is categorized as family heirlooms?
If so, all our jewelry (wedding rings, wedding gifts, other jewelry we acquired during our life, and presents we received) can be categorized as family heirloom. Any problem with that?
2) Do we need to provide appraisal value papers for jewelry that are categorized as family heirlooms?
Do we just guess how much CAD a particular jewelry piece would cost? or do we need to get the jewelry officially appraised?
3) when taking photos, does each item need to be photographed separately, or they can be grouped and photographed together?
4) I have a numismatic collection of coins and banknotes (various currency bills both current and old) I have been collecting since I was a kid. I'm going to put this in our GOODS TO FOLLOW list and bring sometime in the future. And maybe a few gold coins (american eagle $50). Do these ever need to be specifically declared, officially appraised? or I can just write "numismatic collection with nominal face value" on my GOODS to FOLLOW list?
thanks guys!
If so, all our jewelry (wedding rings, wedding gifts, other jewelry we acquired during our life, and presents we received) can be categorized as family heirloom. Any problem with that?
2) Do we need to provide appraisal value papers for jewelry that are categorized as family heirlooms?
Do we just guess how much CAD a particular jewelry piece would cost? or do we need to get the jewelry officially appraised?
3) when taking photos, does each item need to be photographed separately, or they can be grouped and photographed together?
4) I have a numismatic collection of coins and banknotes (various currency bills both current and old) I have been collecting since I was a kid. I'm going to put this in our GOODS TO FOLLOW list and bring sometime in the future. And maybe a few gold coins (american eagle $50). Do these ever need to be specifically declared, officially appraised? or I can just write "numismatic collection with nominal face value" on my GOODS to FOLLOW list?
thanks guys!