End of Canadian PayPal Stealth? Federal Court ordering PayPal to disclose all infos

[smartguy]

We’re writing to notify you that we have received a Federal Court order requiring us to disclose information to the Canada Revenue Agency (CRA) about PayPal Business account holders who sent or received a payment between January 1, 2014, and November 10, 2017. To comply with the order, PayPal Canada will make a disclosure to the CRA within 45 days of the date of the order.

If you have any questions about this email, please refer to our list of Frequently Asked Questions or contact us through our Help Centre.

Thank you for being a PayPal customer. We’re committed to helping your business get the best online and mobile commerce solutions so you can grow your business and compete in today’s digital economy.

PayPal Canada

[rsot]

Paypal BUSINESS account holders - it's written there, if the message is true.

Should not affect the other account types...

[smartguy]

Yes, but most stealths are "BUSINESS" ... it can even than "Personal Business" ... so what it will happen if you created a ⊗⊗⊗⊗ account, with an address on it? the house owner will have problems or what?

[smartguy]

How they are going to identify business, if in Canada you only had to write "Personal Business" ?!

[slokor]

Which part about 'Business Account holders' are you not understanding?
This refers to people who have BUSINESS accounts ONLY. If you have a PERSONAL account this has no impact on you. And the vast majority of stealthers have a PERSONAL account.

[BiN4RY]

The email also linked a FAQ regarding on this court order:

https://www.paypal.com/ca/selfhelp/a...equest-faq3755

What information has PayPal been ordered to share with the CRA?
The court order requires PayPal to disclose the following information to the CRA about PayPal business account holders who received or sent a payment between January 1, 2014 and November 10, 2017:

• The full name of every individual or corporation holding a business account that has a Canadian address;
• The date of birth of each individual holding a business account;
• The business name, if applicable;
• The telephone number(s) of the corporation or individual holding the business account, if available;
• The full address(es) of the corporation or individual holding the business account;
• The email address of the corporation or individual holding the business account;
• The Social Insurance Number and/or Business Number of the corporation or individual holding the Business Account, if available.

The following information on transactions made by the account holder:

• The total number and value of received transactions for each calendar year between January 1, 2014 and November 10, 2017.
• The total number and value of sent transactions for each calendar year between January 1, 2014 and November 10, 2017.

So in another word, unless you registered your business account under your real information, you're fine.

As a reminder, this forum has never advocated tax evasion in any way or form. Always report your taxes correctly to avoid fusses about problems like this.

[rsot]

Thanks slokor and B1n4RY for more clarification for smartguy

[stealthbiz]

Originally Posted by BiN4RY

The email also linked a FAQ regarding on this court order:

https://www.paypal.com/ca/selfhelp/a...equest-faq3755



So in another word, unless you registered your business account under your real information, you're fine.

As a reminder, this forum has never advocated tax evasion in any way or form. Always report your taxes correctly to avoid fusses about problems like this.

I had all ⊗⊗⊗⊗ information on the account, I guess I'm fine?