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Old 04-04-2020
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Default 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.
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Old 04-07-2020
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Default Re: paypal canada cra reporting limit?

Bump still looking for an answer please
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Old 04-08-2020
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Default Re: paypal canada cra reporting limit?

No but they still verify you once you reach certain amount of sales.
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Old 12-21-2020
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Default Re: paypal canada cra reporting limit?

Quote:
Originally Posted by Stealth1738 View Post
Bump still looking for an answer please
Did you find an answer? I'm looking for an answer for the same question desperately
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Old 12-22-2020
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Default Re: paypal canada cra reporting limit?

You basically wanna run multiple accounts under the treshold regardless.

This eliminates a lot of other potential issues.
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Old 12-22-2020
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Default Re: paypal canada cra reporting limit?

Quote:
Originally Posted by zebios View Post
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...
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Old 12-23-2020
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Default Re: paypal canada cra reporting limit?

Quote:
Originally Posted by SaiJin View Post
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?
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Old 12-23-2020
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Default 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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