Cheating on Value of vehicles to Customs - not worth.

Customs

During the month of February, BSOs at the Pigeon River POE conducted 1,604 secondary examinations for customs purposes and other government departments, initiated four seizure actions for various offences and issued an additional10 written warnings for undeclared or undervalued goods.
On February 12, a Canadian resident and his family members were referred for further processing after he declared $1,600 in purchases after an absence of 48 hours, including a snowmobile trailer that required further processing. The importer specifically valued the trailer at US$400. During the processing of the trailer, the officer became suspicious of its reported low value. Throughout the subsequent examination and interview, officers noted numerous discrepancies between the individual's statements and the documentary evidence discovered. Ultimately, the importer admitted to having actually paid US$800 for the trailer and having falsified his invoice. The trailer was seized and later returned to the importer upon payment of a $220.35 penalty. Had he declared the trailer at its proper value and factoring in the $400 personal exemption for which he qualified, he would have paid only $20.06 in taxes for the snowmobile trailer.

More -  Canada Customs
News Releases - Prosecutions and Seizures 
http://www.cbsa-asfc.gc.ca/media/prosecutions-poursuites/pros-eng.html

Travel Tips

After an absence from Canada of 24 hours, you may bring back $50 worth of goods duty- and tax-free; after 48 hours, your personal exemption is $400; and after an absence of seven days, you are entitled to $750 worth of duty- and tax-free goods. There are no personal exemptions for same-day purchases.