Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Hello
I have an stealth hybrid Canadian/us account. I have spread sales between several accounts to say under the radar. Out of curiosity the 200/20000 number will apply to the paypal canadian accounts? Thanks
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Re: Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Isn't there a law in Canada similar to the USA for their own revenue service? and since items are being ship from the US does that not count into IRS territory?
Re: Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Quote:
Originally Posted by kenshin03
Isn't there a law in Canada similar to the USA for their own revenue service? and since items are being ship from the US does that not count into IRS territory?
Yes
and
Yes/maybe.
You need to seriously consider getting professional tax advice soon.
__________________ REAP WHAT YOU SOW. LIFE IS SO NOT FAIR.
Re: Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Quote:
Originally Posted by GreenBean
Yes
and
Yes/maybe.
You need to seriously consider getting professional tax advice soon.
I have stay under the 200/20000k limit for this reason just to be on the safe side. Do you have any links to info on this topic? I have try to search but the information is almost none existent or very vague
Re: Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Quote:
Originally Posted by kenshin03
I have stay under the 200/20000k limit for this reason just to be on the safe side. Do you have any links to info on this topic? I have try to search but the information is almost none existent or very vague
200/20k is USA IRS laws not Canada.
You will need to search Canada's reporting laws. Google would a great place to start.
Re: Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Quote:
Originally Posted by yankee
200/20k is USA IRS laws not Canada.
You will need to search Canada's reporting laws. Google would a great place to start.
Hello
I have try google but there is almost no information about this. This is why I went to this forum hopping some members from canada could explain this to me.
Re: Does the 200 items/$20,000 applies for hybrid canadian US accounts?
Quote:
Originally Posted by kenshin03
Hello
I have try google but there is almost no information about this. This is why I went to this forum hopping some members from canada could explain this to me.
Not sure if Paypal will report this information to CRA or not. But this request will apply however no documents will be needed or any tax numbers in order to remove this limitation. Just check mark yourself as "non-US" citizen and VOILA!