Starting January 2025, Ebay Canada to require SIN number for all sellers with more than 30 sales?

[joycroe_0]

I was reading this article on Ebay and it states that as of January 2025, anyone with over 30 sales will have to provide a SIN number. 
https://www.ebay.ca/help/account/regulatory/sales-reporting/canada-digital-sales-reporting?id=5476#s...

It seems like quite a drastic update and I'm surprised more people haven't been talking about it.

[jimbo_kw]

The CRA rules I was quoting here I got from their website so they are current.

Another think, are they going back to previous years or starting this year? Also, if I had large expenses in previous years can I bring them forward?

[mrdutch1001]

"are they going back to previous years or starting this year?" Not sure if anyone actually got clarification on that...but, as per eBay's announcement: "Starting January 2025, eBay will begin annually reporting to the CRA"

[flipistics]

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@mrdutch1001 wrote:

"are they going back to previous years or starting this year?" Not sure if anyone actually got clarification on that...but, as per eBay's announcement: "Starting January 2025, eBay will begin annually reporting to the CRA"

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I just got the notice today and had to provide it. When I entered it, it appears to have updated all 3 of my stores.

[jimbo_kw]

Thanks for your response. So,  if I follow your advise and be say it is a business any syamp purchases I have in a year would be inventory and a deduction, right?

[brettjet38]

Retroactive to Jan 1, 2024 for your 2024 tax return

[jimbo_kw]

Hi....Where can I find this written statement online, eBay or CRA? I ask because I see two different answers on this thread.

              - "Retroactive to Jan 1, 2024 for your 2024 tax return"

              - "as per eBay's announcement: "Starting January 2025, eBay will begin annually reporting to the CRA"

Thanks

[brettjet38]

The law went into effect as of Jan 1 2024.

Do yourself a favor and report it from Jan 1 of last year when you do your Tax return this year. If you go further back on this thread look at my links to ALL the source material. 

[itolduandso]

Reporting sales - you have to do it if your activity is more than ocassional selling of own private items. So if you do a hobby or side-gig you always need and needed to report sales.  
The requirement now seems lowered to cath also people who sell lots of "personal" items (some people misunderstand here re-selling items), if the threathold reaches the new limits.

Previously it was a less self- assessment. Now it is set by CR limit by volume or total sales. So there is no "confusion" about whether sales should be reported or not. 

You should be added all sites together. 

Keep in mind, if you sell on portals like FB Marketplace, if you "choose" to mark the item as sold on FB Marketplace, it is sold, you should report it on your income statement, the price is visible there and it's not completely avoidable to be found should you get audited.

[itolduandso]

My question is, I get this notification in the account showing I need to add the SIN number. Do I need to do it right away, like this moment? 
I am away and I don't have my SIN number with me, I don't want to do long distance call to find out what is my SIN number. 

So perhaps this is needed for the income tax? Or what is the deadline to submit the SIN number in ebay?

[recped]

Depends on how long you are going to be away. If it's just a week or so I would not worry about it too much. A longer period could be a problem.

[brettjet38]

The CRA will fine you $500 if you do not submit your SIN when asked within a reasonable amount of time, Seller reports will be issued 1/4 to the Sellers and sent to the CRA, and you can be fined for each site you refuse to give your SIN too if you sell on those platforms.

[jimbo_kw]

"will be issued 1/4" what does this mean? thanks

[sin-n-dex]

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@jimbo_kw wrote:

"will be issued 1/4" what does this mean? thanks

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I'm guessing April 1?

C.

[brettjet38]

The information will be sent quarterly to the CRA for each seller, each 3 months.

[leanniefaith]

I checked with tax accountant and he said it applies to sales in 2025, not retroactively.

[reallynicestamps]

Again, If you have income from online sales, or flea markets, or popup stores, or dividends, or rentals, or anything, you are supposed to report it.

And then you have deductions from that income.

I suspect that most of those who are panicking about this will learn that they did not have a lucrative "tax-free" side gig, but a money sucking hobby with more expenses than income.

And for the record, this is how graduated income tax works.
https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individu...

If your total income is under $57,000 you will pay 15% in tax-- after deductions.

If your total income is under $114,750 you will pay 15% on the first half, then 20% on the rest- after deductions.

[itolduandso]

And that's the point, if you keep track of things to make sure you are not losing money on the side-gig, you are automatically and unconditionally running a business  and there is no way out on taxes here for sure 😉

[lotzofuniquegoodies]

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@mrdutch1001 wrote:

Yes, I guess that would be more logical and as per this statement:"For residents of Canada, eBay and other marketplaces are legally required to report both your sales transactions and certain personal or business information to the Canada Revenue Agency (CRA). eBay will report this information should you meet either of the following thresholds within the calendar year:"

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What "can" happen when a mistake is made with a SIN!!! Sorry but according to our records you are dead!!!

https://www.cbc.ca/news/canada/new-brunswick/live-woman-declared-dead-service-canada-1.7451371

[leafsfan17]

Protecting your SIN:

https://www.canada.ca/en/employment-social-development/services/sin/protection.html

[dobo5250]

i thought when you had to get managed payments account  a few years back you had  to at that time give them your sin number at the time--- many sellers where up in arms about it but to go from paypal to managed payments you had to submit it -- i remember doing it  back then -- was i wrong ???