Tuesday, April 25, 2017

Ebay Sales and Canadian Tax Rules

 The reason I try to keep much of my sales off Ebay is for Tax purposes.

Revenue Canada sued Ebay for their financial records of Canadian Sellers.  Now, if I sell more than $1000/month on Ebay, I am required to claim this on my taxes as income.

So I get dinged possibly for an Ebay listing fee, a final sales fee, a paypal fee and then taxes on the sale.

If you buy something off Ebay that you plan to sell at a later date, KEEP ALL TRANSACTION RECORDS.  Then you wont have to ALSO pay a Capital Investment Tax.  You bought it with money that had already been taxed.  You are just recovering the funds.

CANADIANS...One of the highest taxed nations in the developed world.

I appreciate the trust when you buy through my blog, so if I can, I try to slip something extra in or make sure you get a good deal on the price. 

Its not much, but all tracked packages are 5% off on shipping...all the time.

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