No announcement yet.

EBAY Canada - your gross income is being reported to the Canadian tax authorities

  • Filter
  • Time
  • Show
Clear All
new posts

  • EBAY Canada - your gross income is being reported to the Canadian tax authorities

    Feds say online sales taxable - Canada

    Feds selling used goods, gadgets online | Toronto Sun

    OTTAWA — The federal government says online income is taxable and has warned Internet entrepreneurs who use eBay and other web-based sales venues that they must pay up or face prosecution.

    “Taxpayers should know that the tax laws that apply to traditional commerce apply in the same way to electronic commerce, like eBay selling,” Revenue Minister Jean-Pierre Blackburn said in a statement Thursday.

    “I strongly encourage eBay sellers and, for that matter, any taxpayer who has not already done so, to correct their tax affairs as soon as possible to avoid penalties or prosecution.”

    The tax agency says it will begin auditing eBay sellers at summer’s end [summer 2009] after receiving detailed information from the online sales outlet.

    Revenue Canada said in court filings it is targeting people who qualified for eBay’s PowerSeller program in 2004 and 2005.

    Only top eBay sellers qualify for the program and its benefits, including prioritized customer service, special promotions and sales tips.

    So if you are an EBAY Canada PowerSeller - look out! Big Brother is watching you.

    EBAY U.S.A. sellers - don't feel left out. Beginning after 2011, all merchant processors in the U.S. will be reporting high gross proceeds to the I.R.S.:

    Taxes - PayPal, other credit card processors reporting income (gross receipts) to IRS - Free EBAY, PayPal, Business and Law Forums - Ebay Suspension, PayPal Limited
    Please read the forum rules before you post.

    And if you need extra help:
    Modee Tech Support