eBay

fenian · ‎11-12-2008

Like a lot of you, I just received the email confirming that CRA has the final go-ahead (as of Nov 7) to obtain 2004/05 sales records. As part of the message, I note they will seeking court orders to access records for all subsequent years as well. Could be interesting times for some folks out there.

momoftwingles2 · ‎11-20-2008

A seller only needs to sell 100 items...at a minimum of $1.00 each and they qualify for PS status.

Meet the following average minimum sales requirement on eBay:
Three-Month Requirement: Minimum of US$1,000 in sales or 100 items per month, for three consecutive months

So...it doesn't take much and then info will be reported to Revenue Canada.

Susan
momoftwingles2

lina-mallows · ‎11-20-2008

Our total eBay sales to date (for the month of NOVEMBER)- easily verified by simply looking at our history is, at this point in the month- LESS THAN US$350 !!!
HOWEVER- we have already sold NINETY-TWO items !!!

That's EIGHT items away from maintaining the 100 items required- with TEN DAYS to go in the month!

While we may be the exception, according to Pierre- we are every bit as much a POWER SELLER, according to eBay, and CRA definitions.

And that's why we are laughing at all the fuss. PLEASE- we are fully GST/HST REGISTERED (With a Federal IMPORTER's licence attached to our GST! As well as PST for Ontario), and have been since Feb of 1991- filing quarterly since then.
What do we have to hide?

cumos55 · ‎11-21-2008

The 100 item rule was only added for PS status quite recently.

momoftwingles2 · ‎11-21-2008

Hi cumos55,

The 100 item rule to become a Bronze Power Seller has been in effect since early 2008, I believe. I was just mentioning that because for sure starting with this year, when Revenue Canada looks at Power Sellers income...they will find many are Power Sellers with $100.00 a month in sales...or $1200 a year.

Susan
momoftwingles2

lina-mallows · ‎11-22-2008

Maybe eBay should just make everyone a POWER SELLER- and totally overwhelm the CRA with information........

Just a thought.

If we can be a Power Seller- based on the current rules- it was likely to give eBay some sort of perverted bragging rights as to the number of POWER SELLERS currently listing on eBay.

When the numbers drop- change the rules by moving goalposts farther apart to capture more sellers.

As to the changes in the rules- we were Power Sellers in the 2004/05 period as our sales were at the $1000+ point.
Even though that translated to just about $12,000+ that certainly wasn't ALL profit- and at the end of day- certainly well below what most other Power Sellers posting here are doing.
Then by moving into a BRICKS & MORTAR location, the need to sell certain items on eBay dropped considerably. Especially the HEAVY & AWKWARD items not suited to shipping.

So- at the end of day- Why spend all that money on listing, and end value fees- when you can retail them on your own?
However, those little eBay sales still add up....Nov.22nd....NINETY-FIVE items sold so far this month, and still counting!

whoscloset · ‎11-22-2008

I'm really happy actually.

I figure they are going to be so busy now going after people who haven't claimed their ebay sales that they won't be springing audits on those of us that were smart enough to claim our ebay income all along. 😉

Monique

cumos55 · ‎11-23-2008

They do have a December 31 deadline for the 2004 data.

Suspect they will be looking for those earning more than $30,000 in Canadian dollars.

batterybargaincanada · ‎09-24-2011

bump!

Has anyone actually been prosecuted by this? I mean they released 2004/2005 and now 06/07/08 yet I can't find a single person who has written that they've been audited by the CRA?

Can anyone confirm this?

fillthoseholes · ‎09-25-2011

Just a comment on Pierre's post #7

About keeping those receipts. You may want to go back and take a look at them. I have been and a lot of the print has faded so bad that you can't read them anymore. It's the thermal ones that are the problem. Even some of our thremal ones from 2010 are completely faded. I'll be making photo copies of all thermal paper receipts from here on. This type of paper shouldn't even be allowed IMO.