eBay

catholicorum · ‎08-22-2022

ATTENTION BUYERS: EBAY IS ILLEGALLY COLLECTING FEDERAL AND PROVINCIAL SALES TAXES ON BULLION

On July 14th, 2022 eBay announced that they were collecting sales taxes on the bullion category because of a "technical glitch" and that they would be refunding buyers but as of today August 22, 2022 they still have not corrected this and are still not refunding the sales taxes that they charged illegally.

Bullion (pure precious metals: gold, silver, platinum, palladium) are EXEMPT from sales taxes in Canada. What is eBay doing with the thousands if not hundreds of thousands of dollars that they illegally charge buyers?

ATTENTION BUYERS: EBAY IS ILLEGALLY COLLECTING FEDERAL AND PROVINCIAL SALES TAXES ON BULLION

reallynicestamps · ‎08-22-2022

This has been noted on both the dot COM and the dotCA Boards.

One problem is that not all sellers are correctly putting Bullion in the Bullion category but are instead using Coins. Only the seller can fix that.

And it has been noted that the Buyer can apply to his local sales tax administration to have the tax refunded. Only the buyer can do that.

More generally, I still fail to understand why bullion is not taxable. I've been told it is considered to be an investment, but particularly the sterling silver coins and gold coins sold by various public and private organizations contain less bullion than the original price for the coin.

https://www.mint.ca/en/shop/coins/2022/2-oz-fine-silver-coin-the-mighty-bison

For $190 the buyer gets 2 oz of silver with a current bullion price of $38. today.

https://www.monex.com/silver-prices/

And TDBank is selling silver bars for $30 an ounce.

https://preciousmetals.td.com/shop/en/tdmetals/silvers/p0026

To my mind, this is not an investment, unless someone was looking for an immediate loss, and probably should be removed from tax-exempt status.