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- - paypal canada cra reporting limit? (https://www.aspkin.com/forums/paypal-talk/134854-paypal-canada-cra-reporting-limit.html)

Stealth1738

04-04-2020 11:28 AM

paypal canada cra reporting limit?

i know for the us paypal reports to irs after account reaches 200 sales or $20000 does anyone know if paypal has a similar arrangement with cra? I only know of one previous court settlement where paypal reported a lot of business account info to cra, but not personal.

Stealth1738

04-07-2020 05:02 PM

Re: paypal canada cra reporting limit?

Bump still looking for an answer please

gameplaybooster

04-08-2020 12:53 AM

Re: paypal canada cra reporting limit?

No but they still verify you once you reach certain amount of sales.

zebios

12-21-2020 11:52 PM

Re: paypal canada cra reporting limit?

Quote:

Originally Posted by Stealth1738 (Post 1083412)

Bump still looking for an answer please

Did you find an answer? I'm looking for an answer for the same question desperately

SaiJin

12-22-2020 12:46 AM

Re: paypal canada cra reporting limit?

You basically wanna run multiple accounts under the treshold regardless.

This eliminates a lot of other potential issues.

rsot	12-22-2020 05:27 AM

Re: paypal canada cra reporting limit?

Quote:

Originally Posted by zebios (Post 1132375)

Did you find an answer? I'm looking for an answer for the same question desperately

SaiJin's advice is good but just to let you that there is a general 200/20k rule for canada as well...

zebios

12-23-2020 11:21 AM

Re: paypal canada cra reporting limit?

Quote:

Originally Posted by SaiJin (Post 1132383)

You basically wanna run multiple accounts under the treshold regardless.

This eliminates a lot of other potential issues.

Thanks for the tips..opening multiple accounts under the same name wouldn't be an issue?

slokor

12-23-2020 11:57 AM

Re: paypal canada cra reporting limit?

It would be.
That's the whole point of stealth - opening multiple accts NOT on your own name.

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