Canadian Paypal obligations for TAX and the CRA (Canuck thread) - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 12-12-2017
Canadianleaf's Avatar
Senior Member
 
Join Date: May 2017
Posts: 1,057
Thanks: 447
Thanked 193 Times in 138 Posts
Activity: 33%
Longevity: 18%
iTrader: (0)
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?

Reply With Quote
The Following User Says Thank You to Canadianleaf For This Useful Post:
phaz0rz (12-12-2017)
The complete step-by-step guide to get back to selling today!

  #2  
Old 12-12-2017
phaz0rz's Avatar
Senior Member
 
Join Date: Nov 2015
Posts: 8,262
Thanks: 1,628
Thanked 2,861 Times in 2,178 Posts
Activity: 94%
Longevity: 30%
iTrader: (2)
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.
__________________
____________
_______
___
Reply With Quote
The Following User Says Thank You to phaz0rz For This Useful Post:
Canadianleaf (12-12-2017)
  #3  
Old 12-12-2017
Canadianleaf's Avatar
Senior Member
Threadstarter  
 
Join Date: May 2017
Posts: 1,057
Thanks: 447
Thanked 193 Times in 138 Posts
Activity: 33%
Longevity: 18%
iTrader: (0)
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.
Reply With Quote
  #4  
Old 12-13-2017
phaz0rz's Avatar
Senior Member
 
Join Date: Nov 2015
Posts: 8,262
Thanks: 1,628
Thanked 2,861 Times in 2,178 Posts
Activity: 94%
Longevity: 30%
iTrader: (2)
Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

Bump for the leafs.
__________________
____________
_______
___
Reply With Quote
The Following User Says Thank You to phaz0rz For This Useful Post:
Canadianleaf (12-14-2017)
  #5  
Old 02-11-2018
Junior Member
 
Join Date: Jul 2008
Posts: 30
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 19%
Longevity: 88%
iTrader: (0)
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.
Reply With Quote
  #6  
Old 02-11-2018
phaz0rz's Avatar
Senior Member
 
Join Date: Nov 2015
Posts: 8,262
Thanks: 1,628
Thanked 2,861 Times in 2,178 Posts
Activity: 94%
Longevity: 30%
iTrader: (2)
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..
__________________
____________
_______
___
Reply With Quote
  #7  
Old 02-11-2018
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 57,941
Thanks: 4,602
Thanked 7,059 Times in 6,430 Posts
Activity: 100%
Longevity: 76%
iTrader: (7)
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....
Reply With Quote
  #8  
Old 02-14-2018
Junior Member
 
Join Date: Jul 2008
Posts: 30
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 19%
Longevity: 88%
iTrader: (0)
Default Re: Canadian Paypal obligations for TAX and the CRA (Canuck thread)

I was talking about this.

https://www.theglobeandmail.com/repo...ticle36983946/
Reply With Quote
  #9  
Old 02-14-2018
Junior Member
 
Join Date: Feb 2016
Posts: 12
Thanks: 0
Thanked 1 Time in 1 Post
Activity: 0%
Longevity: 27%
iTrader: (0)
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.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Candian Stealth Sellers - How do you overcome tax obligations? Canadianleaf Amazon 7 03-24-2019 01:46 PM
Canadian Sellers and tax obligations (Canucks only) Canadianleaf eBay Discussion! 0 12-12-2017 12:27 PM
Can I send US $ from my Canadian PP to a Canadian Bank Account ? mcmstar Subscriber Discussions 1 12-12-2017 11:28 AM
U.S. Postal Services Obligations? pokerguru eBay Discussion! 4 01-02-2010 09:41 PM
Getting a Canadian IP address using Canadian dial up blackchip eBay Tracking 4 02-04-2009 09:14 PM


Aspkin Group

All times are GMT -5. The time now is 01:08 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts