7r!!(U~$(KGrHgoOKkMEjlLmT(phBJ1S2cwLRw~~_7.JPG?set_id=81 "winston-in-toronto"){kind=avatar}
I urge all sellers and would be sellers (located in Ontario) to invest the time to review the Retail Sales Tax Act of Ontario:
http://www.trd.fin.gov.on.ca/userfiles/HTML/cma_3_2491_1.html
Sellers (and would be sellers) residing in other provinces should do the same with their respective provincial government sales tax department websites.
All Canadian sellers (and would be sellers) should also invest the time to learn about the advantage of registering for GST/HST by visiting the GST website:
http://www.cra-arc.gc.ca/tax/business/topics/gsthst/menu-e.html
For more useful tips, please take a look at tax information for small business in Canada:
http://sbinfocanada.about.com/od/gsthst/index_a.htm
Finally, do yourself a favour and read all of it, not bits and pices here and there. Do not select a sentence out-of-context because you like what it states.
To understand the tax system is part of doing business in Canada. If you want to sell on eBay (other than selling personal used goods) you are in fact becoming a small business. To understand the system will save you money and time on the long run.
http://www.trd.fin.gov.on.ca/userfiles/HTML/cma_3_2491_1.html
Sellers (and would be sellers) residing in other provinces should do the same with their respective provincial government sales tax department websites.
All Canadian sellers (and would be sellers) should also invest the time to learn about the advantage of registering for GST/HST by visiting the GST website:
http://www.cra-arc.gc.ca/tax/business/topics/gsthst/menu-e.html
For more useful tips, please take a look at tax information for small business in Canada:
http://sbinfocanada.about.com/od/gsthst/index_a.htm
Finally, do yourself a favour and read all of it, not bits and pices here and there. Do not select a sentence out-of-context because you like what it states.
To understand the tax system is part of doing business in Canada. If you want to sell on eBay (other than selling personal used goods) you are in fact becoming a small business. To understand the system will save you money and time on the long run.
"How the heck do you actually CHARGE your customer GST?"
By sending them an invoice showing both the amount of tax being charged, the rate 7% or 15% for NB, NS and NL, and your GST registration number.
"when you send them an invoice through Ebay, there is no option for GST or tax. " Do NOT use eBay's invoicing system.
By sending them an invoice showing both the amount of tax being charged, the rate 7% or 15% for NB, NS and NL, and your GST registration number.
"when you send them an invoice through Ebay, there is no option for GST or tax. " Do NOT use eBay's invoicing system.
"how NS, NB, or Nfl get their 8% share "
The three provincial governments have a deal with Ottawa where Ottawa does all the administration work (combining GST and PST) and gives the three provinces their shares by direct transfers.
The three provincial governments have a deal with Ottawa where Ottawa does all the administration work (combining GST and PST) and gives the three provinces their shares by direct transfers.
" assume that I report any HST collected along with GST "
That is correct. Line 103 of your GST/HST Return for Registrants.
That is correct. Line 103 of your GST/HST Return for Registrants.
"You only have to collect GST if your yearly sales exceed $30,000"
That is not entirely accurate.
To "collect" GST, you must be registered.
If your annual sales excees Cdn$30,000 (including exports), you must register for GST.
Many sellers with sales below $30,000 should register with GST. It will benefit them to do so if a large percentage of their sales goes outside Canada.
There is no requirement to "charge" GST.
GST registered sellers must remit GST/HST on their Canadian taxable sales. They may elect to absorb the tax for competitive advantage as many already do.
That is not entirely accurate.
To "collect" GST, you must be registered.
If your annual sales excees Cdn$30,000 (including exports), you must register for GST.
Many sellers with sales below $30,000 should register with GST. It will benefit them to do so if a large percentage of their sales goes outside Canada.
There is no requirement to "charge" GST.
GST registered sellers must remit GST/HST on their Canadian taxable sales. They may elect to absorb the tax for competitive advantage as many already do.
Once registered with GST with the Federal government, a seller (regardless of sales volume) receives Input Tax Credits equal to the GST paid on all purchases and related expenses.
If you find a few minutes to check older threads, you will find several posts giving specific calculations how most Canadian sellers would benefit financially by registering for GST, even if they absorb the GST/HST on their Canadian taxable sales.
Break over - back to listing (76 new auction listings so far this morning).
If you find a few minutes to check older threads, you will find several posts giving specific calculations how most Canadian sellers would benefit financially by registering for GST, even if they absorb the GST/HST on their Canadian taxable sales.
Break over - back to listing (76 new auction listings so far this morning).
" this is Rev CAD I am dealing with"
NO, it is not.
Your Vendor Permit is obtained from the provincial government.
The GST/HST regisration is obtained from the federal government (Revenue Canada).
Since your father is already registered, you may ask him for assistance.
NO, it is not.
Your Vendor Permit is obtained from the provincial government.
The GST/HST regisration is obtained from the federal government (Revenue Canada).
Since your father is already registered, you may ask him for assistance.
"this morning it was 76 listings..."
Up to 208 listings (302 items) and still going... although a bit slower than earlier this morning.
All auction listings so far have been priced between US$12.00 and US$ 45.00. Every one of them is backed by substantial inventory in my eBay store for identical items. This type of promotion usually results in a low "Sell Thru" rate but brings in huge traffic to the store (and the website) with a fair amount of sales.
Higher priced items (US$50 to US$4,000) will be listed later this afternoon.
Up to 208 listings (302 items) and still going... although a bit slower than earlier this morning.
All auction listings so far have been priced between US$12.00 and US$ 45.00. Every one of them is backed by substantial inventory in my eBay store for identical items. This type of promotion usually results in a low "Sell Thru" rate but brings in huge traffic to the store (and the website) with a fair amount of sales.
Higher priced items (US$50 to US$4,000) will be listed later this afternoon.
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