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 Replies: 57 / Views: 7,034 |
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Pillar of the Community
 Canada
5404 Posts |
I don't get it ,it is a WASH. So you pay this seller the HST. Just use it as an input tax credit on your report when you file .It in no way is hurting you a lick financially. BTW I have been using the same accountant for close to 30 years and for the most part he has kept me and my company out of trouble, save a BC sales tax audit in the 1990s which we passed with flying colours. Cost us the grand sum of about nine bucks!,!  So I would say I have been doing it right. As a previous poster stated, he had to pay on a bullion bar. This is another great topic for another time . The border clowns are another group all together different. Coming through Toronto last year cost me $1500 CAD in DUTY on collectors coins( no duty at all payable see tariff number 9705.00.00.90 ) That circus resulted in a ministerial written apology and a refund cheque. Edited by Pacificoin
09/02/2015 8:40 pm
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Pillar of the Community
 Canada
2366 Posts |
Audits don't tell you when you're overcharging/overpaying (yes we have a couple of businesses so have almost 20 years experience with the taxman between them). They just look for places they can make you pay more, not less. And as I said, I care about our buyers' cash as well as our own. Taking care of our customers is WHY we have a feedback of almost 5,000 as you pointed out earlier. IMHO it's worth asking your accountant about. Is there a specific IB or ruling that he's basing it on or is he just 'playing it safe'? p.s. I have a friend who did everything his accountant asked him to without question and ended up owing $40K when audited because their company ownership was split 3 ways so he didn't own 50%+ of it. Another friend does everything his accountant tells him to and pays about $5k in taxes more than he has to by my rough calculation. But he sleeps well at night so I don't bug him about it too much.
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Pillar of the Community
Canada
2366 Posts |
p.s. My one brother-in-law works for border services. I hear you. Authoritative but not too bright....  |
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Pillar of the Community
 United States
1949 Posts |
As a bit of an aside, as pacific mentioned earlier here in the states there are varying laws regarding taxation of coins depending on the state... For instance, in RI, there is no taxes charged on U.S. coins, but there is on foreign... I ran into a situation where I purchased a mixed Canadian and U.S. collection and, as there were elements that were taxable, the entire purchase was taxable
P.S., my whole take on this thread is sometimes if you look at a situation from both sides, it ends up simply not being worth a win at all costs situation. It seems that both parties believed reasonably they were right. Seems like the situation could have been resolved far easier than how it seems to have went...
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Pillar of the Community
Canada
2366 Posts |
@jdmern - Yep, that was why we asked to just Cancel the purchase and walk away. Seller just didn't 'get it' though and insisted on escalating.  Seller could have also avoided it by simply checking the 'Charge taxes' box on the listing instead of waiting until the Cancel period expired then sending an updated invoice with additional charges. I could go on and on about how the seller handled this badly. We provided them at least 3 obvious opportunities to de-escalate; none of which were accepted. (And no, I don't claim to be polite when I catch somebody cheating us so am not blameless either). In my experience the buyer can always do more damage to the seller than the other way around. That's just the way the ebay table is tilted. So as a seller, why start a war? We always accept Cancellations and have a 'no questions asked' return policy exactly because situations like this almost always aren't worth escalating. |
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Pillar of the Community
Canada
9870 Posts |
kuh_85,it seems the issue of whether this item is taxable or not is a matter of opinion. Before I posted here earlier,stating that the item is taxable I had phoned J&M, they said they charge GST for this set. While I was on hold I checked the set out at Colonial Acres, GST payable there as well. Since I had to talk to my accountant today anyways I asked her opinion as well. She texted me later and said the set of coin with stamps could not be considered a financial instrument and would be taxable.
"Dipping" is not considered cleaning...
-from PCGS website
Edited by DBM
09/03/2015 02:19 am
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Pillar of the Community
Canada
2366 Posts |
@DBM - are you still referring to the packaged set with the wooden case etc? If so, then yes, I can agree that there is a disagreement about how HST should be charged on these with a roughly even split of opinion.
However, for this case where the listing is just the coin and stamps, I just got off the phone with the HST office at CRA and the gentleman I spoke to said unequivocally that you are only allowed to charge HST on the stamps, not the coin. And he referred me to Memorandum 17-1, from which I have previously posted the relevant section.
Edited by kuh_85
09/03/2015 2:23 pm
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Moderator
Canada
10463 Posts |
I am thinking that this discussion is really not about Canadian numismatics anymore and more about Canadian tax laws. In fact, I am moving to the Canadian NCLT section (although, I was tempted to move it to the 'Precious Metals and Bullion' forum)...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Valued Member
Canada
109 Posts |
Anybody know what the Canadian ebay sales limit is before they inform CRA? We heard 2 different amounts: $20k or $30K |
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Pillar of the Community
Canada
2984 Posts |
I avoid ebay sellers that charge taxes by just going to the next seller. Problem solved. |
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Pillar of the Community
Canada
2366 Posts |
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Pillar of the Community
Canada
2366 Posts |
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Pillar of the Community
Canada
2845 Posts |
Kuh_85 thank you for starting this thread.
As a non-seller, I've found it very informative and learned a few new things:-)
Edited by wildflowerAB
09/03/2015 5:47 pm
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Valued Member
Canada
109 Posts |
Thanks but both threads posted give 2 different amounts; one for $20k another for $30k. Hence the original question which one is it? JW
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Pillar of the Community
Canada
2019 Posts |
If you take the time to read in that other thread. Basically if you had over $20k sales within a taxation year you will be on their list for an audit, how far down the list is anyones guess. The $30k is for Gst/Hst not gross income. http://community.ebay.ca/t5/Seller-...3?rmvSB=trueQuote:Reporting to CRA ... Canada Revenue Agency ......$20,000 in ebay sales... reported by ebay compared to the US.. IRA... reporting by Paypal.... $20,000 and that includes the cost of shipping. That $30,000 in total sales worldwide with respect to GST/HST registration... includes the cost of shipping. The buyer pays the seller and then the seller decides who will delivery the purchase to the buyer. Quote:
Here is something no-one in Canada comprehends. EVERYONE is audited every year through a CRA computer program. I worked for them, many years ago, when they were Revenue Canada.
I do not remember specifically, heck, hardly even generally, but eBay/Paypal was supposed to be handing over records of anyone that grossed in excess of $20K per year. This is from 4-5 years ago. Quote:"I am asking at what point is ebay required by law to submit your info to CRA" When the first case went to court - fiscal 2004 - the decision eventually was made by the Court on the basis of being a "PowerSeller", the original request by CRA. However, it seems things have changed since then and I understand ebay is now cooperating with CRA instead of fighting them. In addition to the annual report, ebay will respond with the information whenever CRA asks for a specific seller. CRA often gets information from sources outside ebay leading to a request for information. It could be something as simple as a buyer claiming a deduction for an ebay purchase, etc... Edited by Northerncoins
09/03/2015 7:34 pm
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Posted 09/02/2015 8:42 pm
