can

If you sell products on E-bay that income subject to income tax. If you sell more than 000 worth of goods a year, you can also obliged to collect and remit sales tax.

Last year, eBay has received a court ordered requirement of the Canada Revenue Agency.

Sales over 000 and at least 24 sales in a calendar year: Ebay now their account information and data on sales of Canadian eBay members who meet the following conditions notified 2006, 2007 or 2008 (regardless from membership Ebay Power Seller program) ften over 0000 in one of the calendar years 2006, 2007 or 2008 , the number of sales transactions.

Ebay is required to specify the CRA information about these individuals including their full name, user name, address, billing address, phone number, fax number, e-mail address and the selling price of each item that was sold.

This resulted in an increase in audits by the CRA. When the CRA receives the information from eBay and compares the performance of vendors, they must record all defects and usually start the investigation that will lead them into a full-scale testing.

If you’re the one that CRA will eventually learn more about your income and you will be subject to interest and penalties. If you carry a credit rating agency auditor, the same seriousness were contacted and consult a professional adviser immediately. We provide regular Ebay sellers that are monitored by the rating agency. We organize audit performed in our office (not our home or business customers) and the interests of our customers to protect every step of the way.

When the CRA was not a criminal investigation against you, a good way to combine your income and to avoid penalties and prosecution is initiated under the voluntary disclosure program apply. This is another process that should not continue to not represented. This is a program that you previously voluntarily disclosed income of the CRA and the penalties and criminal prosecution can be avoided. It is a complicated and complex, but if you are eligible, will be worth it in the long run.

It is important that when you sell goods on eBay, report income to the CRA on each return and if you do not ask for help as soon as possible. For any further information about audits and voluntary disclosure program www.fightbacktoday.ca.


Audit phone bills