Canada’s taxman knock-knock-knockin’ on EBay’s door

Canadian Taxes on Ebay SalesCanada’s taxman is going to start checking out EBay sellers, including those who sell coins, to make sure that the government is getting its piece of the pie.

According to a Globe and Mail article, the Canada Revenue Agency (CRA) won a federal court order requiring EBay to turn over the names, addresses, phone numbers, and e-mail addresses of high-volume, so-called “power sellers” who use the site.

According to papers filed with the court, the CRA wants to ensure that transactions from 2004 and 2005 were reported, so that income tax could be paid. Power-seller levels start at bronze, for $1,000 US a month, and move up through five levels.

It is estimated that Canadians spend about $5 billion a year online with about a quarter of that going through EBay. The firm’s figures estimated that 11 million Canadians visited the site in August. Read Full Story

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