A few questions about taxes. Need help badly.

[rainbowx1994]

Hi there my name is Brittany and recently I have wanted to start to sell my stuff online. However though, there is like a million things running through my head about taxes and stuff. I do need help on this really bad if I am gonna sell. Now keep in mind that I am from Edmonton, Alberta, Canada so laws might be different. 

1. Do I need a business license to sell stuff? 

2. Do I need to charge sales taxes for other Provinces or States? 

3. Do I need to report all my money I make as income tax and what do I fill out?

I have been trying to research a lot of this and unfortunately, Google is not too kind to me for answers and I ask all of this because I don't wanna get in trouble with the law which is making me quite paranoid. If I think of more questions I will sure to ask more later on.

Help will be much appreciated. Thanks!

[ypdc_dennis]

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@rainbowx1994 wrote:

1. Do I need a business license to sell stuff? 

2. Do I need to charge sales taxes for other Provinces or States? 

3. Do I need to report all my money I make as income tax and what do I fill out?

 

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1. If selling personal stuff, no.

2. If having more than $30,000 in sales in a 12 month period you must register to collect GST/HST in Canada. Under that total you don't need to register. When selling from Canada you do not collect sales tax outside Canada.

3. Keep track of your income and expenses, you have income tax on the profit. Line 135 on the T1 General.

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[rainbowx1994]

Thanks a lot!