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Old 12-12-2017
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Exclamation Canadian Paypal obligations for TAX and the CRA (Canuck thread)



There are many threads pertaining to SSN requirements at $20,000 / 200 for the IRS but I see very little info for Canada.

All law abiding Canadian sellers will have Business Number "BN" with the CRA. You should be familiar with this especially if you collect and remit GST/HST because this number is used when you remit taxes. Whether your legal business structure is a sole proprietor, partnership or corporation each Canadian can only have one BN. The only way to have more than one BN is having multiple corporations. Since a corporation is its own entity, each corp has its own BN.

Since you can only have one BN, getting a new BN requires forming a corporation. This is not a cheap or easy task. Whether its provincial or federal you are looking at ~$400 just to incorporate. You're filling situation just got x10 more complicated and you are looking at minimum ~$1000 / year in accountant fees for filling corporate returns.

Does Paypal ever require a Business Number "BN" or SIN number? Is there any sort of similar threshold for Paypal in Canada where a BN or SIN is required as seen with Americans for the IRS?

If Paypal requires a BN and you have a suspended account with your BN supplied you cannot reuse this or you will be linked.

Canadians, how do you overcome BN requirements? Did you undertake the onerous task if forming a corporation for a fresh BN? If you have multiple accounts did you provide a BN for each account? What is your current situation regarding stealth, GST/HST collection, BN requirements or any general tax headaches how are you overcoming these hurdles?

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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

I'm curious about any Canadian reporting threshold as well.

I've been selling on a couple CA accounts for over a year, one with over 500 sales.
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

Quote:
Originally Posted by phaz0rz View Post
I'm curious about any Canadian reporting threshold as well.

I've been selling on a couple CA accounts for over a year, one with over 500 sales.
Yes, hopefully others can chime in.
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Old 12-13-2017
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

Bump for the leafs.
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Old 02-11-2018
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

Also curious, does anyone have any recent info, seems like a new law may have recently passed.
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Old 02-11-2018
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

Quote:
Originally Posted by hattmall View Post
Also curious, does anyone have any recent info, seems like a new law may have recently passed.
Source?

Also, bump..
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Old 02-11-2018
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

Quote:
Originally Posted by hattmall View Post
Also curious, does anyone have any recent info, seems like a new law may have recently passed.
What new law hattmall? Be specific please. Nothing came across my plate....
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Old 02-14-2018
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

I was talking about this.

https://www.theglobeandmail.com/repo...ticle36983946/
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Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

I've been using a stealth Canadian account and has just under 15k in sales. And as far as I know, PayPal doesn't ask for the sin as it's apparently a law prevents them from asking for it unlike ssn
and the info in the article above is a couple months old. I had gotten that email from paypal in like september or so if I recall correctly

Last edited by ahsan7; 02-14-2018 at 07:31 PM.
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