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" I was hopeing the tax statement would simplify my calculations this year"
eBay and PayPal have no ways to calculate your taxable profit. Most sellers have more than one source of revenue and, often, more than one method of receiving payment.
Since you live in Canada, the only tax return you need to file is with Revenue Canada.
You are expected to show your worldwide sales (including shipping charge) in Cdn$ (including the sales originating in the USA) as Business Income (Gross) on line 162 of your return
and your net profit (after deducting cost of goods and related expenses) on line 135
Only the Net Income (line 135) is added to your other income to arrive at your total income and, eventually, your taxable income.
Many years ago, I prepared this P&L Statement sample for Canadian eBay sellers. Feel free to adapt it to your needs:
http://www.pierrelebel.com/lists/P&L-sample.htm
There is no need to register with GST/HST until your worldwide annual sales (including shipping charge) reach $30,000. Many sellers on the other hand see a benefit in registering with GST/HST even with a much smaller level of revenue.
"you might have had a similar process when you started"
Not really.
I got in the stamp business in 1987 by purchasing inventory from dealers and philatelic auction houses. I never mixed personal and business "stuff" as it gets messy from a tax point-of-view.
Since your annual sales are expected to be below $30,000, you do not need to worry about HST/GST yet.
From a income tax perspective, you should keep two sets of books -
1) old inventory you purchased as a collector and being sold this year - such sales do not require to be reported on your personal tax return (unless an item sells for more than $1,000 but that is another story)
2) new inventory purchased for the business - such sales will need to be reported on your annual income tax return
There is no point in "transferring" ownership of your "personal" plates to yiour business.
Good Luck.
