Still worth selling on Ebay for Canadians?

[30ranfordfan]

@2broscollections

Yes I contacted ebay and they would let me attach my US bank account to them. Its just an RBC bank account not a US based bank.

Because of this, my ins and outs will still be easily tracked weather I convert the funds and transfer to my Canadian funds account or spend right back on ebay.

When all is said and done, in about 10 - 11 months im going to see a lot more taxes owed if I continue to sell on ebay.

As mentioned before, I was not a big time ebay seller quantity wise. They wont miss my contributions, and I am forced to still buy on ebay. I will set up selling threads here, BO and HI. I plan to sell in Facebook group where admins already know who I am and can vouch for me, as well as on Instagram where I have a decent following. Throw in shows that should be going come the beginning of next hockey season and ill be fine moving forward without ebay

@canucksfan007

So the expectation is that eBay will be sending our sales stats to the CRA, so they can tax us on it? Is that documented anywhere, or are we all just assuming still?

[canucksfan007]

@canucksfan007

So the expectation is that eBay will be sending our sales stats to the CRA, so they can tax us on it? Is that documented anywhere, or are we all just assuming still?

Its what theyre doing in the States. Were always a little bit behind.

Still implied, but not something I want to risk come next tax season. Im sure it depending on how much is coming in, but for myself, I feel the government is not going to overlook about $50,000 being randomly deposited into my account throughout the year, even if more than that gets sent out on the same platform

[10-4 collector]

@2broscollections

Yes I contacted ebay and they would let me attach my US bank account to them. Its just an RBC bank account not a US based bank.

Because of this, my ins and outs will still be easily tracked weather I convert the funds and transfer to my Canadian funds account or spend right back on ebay.

When all is said and done, in about 10 - 11 months im going to see a lot more taxes owed if I continue to sell on ebay.

As mentioned before, I was not a big time ebay seller quantity wise. They wont miss my contributions, and I am forced to still buy on ebay. I will set up selling threads here, BO and HI. I plan to sell in Facebook group where admins already know who I am and can vouch for me, as well as on Instagram where I have a decent following. Throw in shows that should be going come the beginning of next hockey season and ill be fine moving forward without ebay

Do you know if you’ll pay a conversion fee if you move your usd money to your Canadian funds? My guess is yes, probably 2.5%.

[10-4 collector]

That's what he said! LOL

----

Interesting discussion thread - my overall eBay buying activity has been up lately, though I haven't been taking much initiative to sell anything on the platform. Hopefully these new changes won't impact too many of the bigger sellers to the extent they withdraw from eBay, because it will have a major negative impact on the hobby generally and my PC additions personally.

I honestly didn’t know that you could post something in the hockeycardforum category. I thought you had to go further an pick another sub-category, I know... I’m dumb! 😂

[30ranfordfan]

Its what theyre doing in the States. Were always a little bit behind.

Still implied, but not something I want to risk come next tax season. Im sure it depending on how much is coming in, but for myself, I feel the government is not going to overlook about $50,000 being randomly deposited into my account throughout the year, even if more than that gets sent out on the same platform

Yeah, but is that because eBay decided to start reporting it.... or because the IRS ordered them to?

There's been a lot of tax laws (states, provinces, countries) updated in the last few years - I'm assuming that was part of it. Be it at the state level, or federal level, someone in the USA decided that they wanted eBay sales data - so they could treat it as income.

If the Feds (or Provinces) here haven't asked for that, I would think we'll still be okay...... but I'm betting you're right - it will be considered income sooner or later.

[sjw241]

I honestly didn’t know that you could post something in the hockeycardforum category. I thought you had to go further an pick another sub-category, I know... I’m dumb! ��

I’ve never seen a hockeycardforum category? Is it new?

[30ranfordfan]

I’ve never seen a hockeycardforum category? Is it new?

When you're navigating in the forums, you get to "Hockey Card Forum" (like where this thread is) and then there's subforums.... Buy / Sell, Trading, S&T, etc..... Hockey Card Forum being at the same "level" as Baseball, Basketball, Football (etc).

It was a re-do on the forums a bunch of years ago. Hockey Card Talk & Hockey Talk were removed, and those types of threads just get put into the general forum.

[bdiam]

What most Cdn ebayers don't realize, is that the CRA has already been up ebay's *** for years. They've won court decisions and started the cash-grabs years ago.

The only change today, is that the CRA wants (needs) to grab more sellers and subsequently, more money from them.

By law, if you have "x" number of transactions a year that bring in "y" amount of dollars, you legally need to be charging tax to your buyer.

Several of the provinces have been monitoring this fact and needless to say, if the CRA is taking their cut, than the provinces want their piece of the pie as well.

https://777taxes.com/cra-targets-eba...s-who-is-next/

[sjw241]

When you're navigating in the forums, you get to "Hockey Card Forum" (like where this thread is) and then there's subforums.... Buy / Sell, Trading, S&T, etc..... Hockey Card Forum being at the same "level" as Baseball, Basketball, Football (etc).

It was a re-do on the forums a bunch of years ago. Hockey Card Talk & Hockey Talk were removed, and those types of threads just get put into the general forum.

Haha. I thought they meant it was an eBay category. My bad.

[volkov956]

I myself stopped selling on ebay less and less fees are going up and confusion with american buyers making offers what they think are in USD but its CND is a weird issue and in some cases kills sales because they think EX they are offering u 10USD but they are offering 10cnd which a few years back would of been find except these days