Can Result in Taxable Income

http://www.anrdoezrs.net/click-8288760-12809087
Selling goods on eBay can result in taxable income.  Canada Revenue Agency (CRA) obtained a court order requiring eBay to release information on certain eBay sellers.  Information disclosed include name, contact information, and sales records.  If your eBay selling history meets one of these criterias:  If you are a seller who, in any of the years of 2006, 2007, or 2008 had more than:
  • $20,000 in sales AND at least 24 sales transactions OR
  • $100,000 in sales, regardless number of transactions

http://www.tkqlhce.com/click-8288760-12503045
You do not have to be a power seller and just a normal eBay seller who meets any of the criterias above, the order order refers to sales on eBay.ca or eBay.com.  You sales transactions may result in taxable income and considered dispositions of capital property, eligible capital property, personal-use property, listed personal property or inventory.  Each item has it's own different tax treatment.

eBay has also posted an announcement on their website about this issue.  The announcement includes frequently asked questions, and a link to the court order from the Federal Court of Canada.


For a full list of contact information see: http://www.cra-arc.gc.ca/contact/menu-e.html

File your taxes with Turbotax today.  Click here to start for free.

Source:
  • Taxtips.ca