Question about taxes - Quebec

[videogameseller32]

Hi everyone , i'm 18 years old from Quebec and when it come to taxes i'm lost ... I started to flip mostly on Kijiji 3-4 years ago (for fun ) and now i want to start reselling full time on Ebay , amazon and Kijiji .I read a lot of  posts but i still have questions .  I would really appreciate your help ! 

-Should or do i need to start a business ? 

-How taxes work on sold items ? I mean example : I bought a game 5$ and i sold it for 30$ + 5$ shipping so my profit is 30$ - ebay and paypal fees how much in taxes i'll need to pay ? 

-When i buy something at the flea market , garage sales i have no receipt so no proof of the purchase what do i do ?

Thank you very much 😄

[silverpinups]

Hi everyone , i'm 18 years old from Quebec and when it come to taxes i'm lost ... I started to flip mostly on Kijiji 3-4 years ago (for fun ) and now i want to start reselling full time on Ebay , amazon and Kijiji .I read a lot of  posts but i still have questions .  I would really appreciate your help ! 

-Should or do i need to start a business ? 

-How taxes work on sold items ? I mean example : I bought a game 5$ and i sold it for 30$ + 5$ shipping so my profit is 30$ - ebay and paypal fees how much in taxes i'll need to pay ? 

-When i buy something at the flea market , garage sales i have no receipt so no proof of the purchase what do i do ?

How items are you selling or will you be listing? What is your gross income from on-line selling?

Taxes only apply if your making over 30,000.00 gross a year, then you will have to apply for a HST/GST number. Only Canadian sales are taxable.

Your profit on the video game is 25.00 (-shipping) and eBay FVF's (final value fees including shipping). I'm sure someone will post the exact percentage. You can subtract your monthly seller fees from your monthly sales.

Always try and obtain a receipt from the garage sale or flea market. It's good to keep a purchase log...   

[i.am.vivian]

This here link shows a very good discussion about the whole tax thing in Canada.  It's long but will probably answer a lot of your questions,

http://community.ebay.ca/t5/Seller-Central/Canadian-Seller-tax-questions/m-p/362943

[recped]

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@silverpinups wrote:

Hi everyone , i'm 18 years old from Quebec and when it come to taxes i'm lost ... I started to flip mostly on Kijiji 3-4 years ago (for fun ) and now i want to start reselling full time on Ebay , amazon and Kijiji .I read a lot of  posts but i still have questions .  I would really appreciate your help ! 

-Should or do i need to start a business ? 

-How taxes work on sold items ? I mean example : I bought a game 5$ and i sold it for 30$ + 5$ shipping so my profit is 30$ - ebay and paypal fees how much in taxes i'll need to pay ? 

-When i buy something at the flea market , garage sales i have no receipt so no proof of the purchase what do i do ?

How items are you selling or will you be listing? What is your gross income from on-line selling?

Taxes only apply if your making over 30,000.00 gross a year, then you will have to apply for a HST/GST number. Only Canadian sales are taxable.

Your profit on the video game is 25.00 (-shipping) and eBay FVF's (final value fees including shipping). I'm sure someone will post the exact percentage. You can subtract your monthly seller fees from your monthly sales.

Always try and obtain a receipt from the garage sale or flea market. It's good to keep a purchase log...   

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Don't say that!!!!

I understand what you are trying to convey but the OP clearly knows almost nothing about taxes and the important thing is that "taxes" are much more than GST/HST. In QC "taxes" would or could include GST, QST, Income Tax, QPP etc. The only one that has a $30,000 effective level is GST, the others may be applicable with even $1 in sales.

[sylviebee]

Keep in mind that you don't pay taxes on personal items you sell.

For example, I sell two types of items.

One type is the stuff I've accumulated over the years (my personal things), and the other is stuff that I buy, repair (or not) and sell.   In the near future I'll deal only with the later type of item and that should simplify things.

I don't pay taxes on my personal items, but I do claim the other stuff.

It was a little tricky at first but I sat down with my accountant and we worked on a system.

[cumos55]

Quebec Taxation..... at all levels....  is uniquely different than any other province in Canada.

Your best source of information is someone from Quebec  who understand the Quebec situation.

Your best source of information is a local accountant....  who understands selling online as well as elsewhere.

Visit the French site on eBay  and ask this question on there....  in English... ou... en francais.

Click on the flag beside English at the top right of this page.... and you will find yourself on eBay French  Canada

[pjcdn2005]

Just curious......Are there separate discussion boards on .cafr?

[recped]

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@pjcdn2005 wrote:

Just curious......Are there separate discussion boards on .cafr?

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Oui!

http://community.cafr.ebay.ca/t5/Forums-de-discussion/ct-p/11001

[pjcdn2005]

Merci!