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New To Selling - Hst Registered Canada

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New Member

Canada
25 Posts
 Posted 05/13/2014  12:08 pm Show Profile   Bookmark this topic Add Shafic to your friends list Get a Link to this Message Number of Subscribers
Hey everyone,

I've been selling on ebay for the past few months, but recently I registered for HST and I'm having trouble trying to wrap my head around how to run this business. I've had discussions with the Canada Revenue Agency and it is my understanding that unless I'm selling pure 99.99% metal I have to charge HST which makes me much less competitive on ebay. So where I was happy to be selling before I have now grown skeptic in fear of taxes. I've called the refiners in Toronto and asked them about this and they told me that when I'm selling to them there isn't HST involved since they are buying the metal "based on purity". That sort of makes things ok but I still lose a little money since I can only sell to them for 95% of the spot price.

So what I'm really trying to figure out is what's the best way for me to sell gold, silver, coins and notes now that I'm HST registered? I don't have any private buyers as much as I would like some. And if that may be the answer than I'll ask what's the best way to get private buyers? I've sent my business cards with all ebay sales but never had a return call, not even from my close by ebay local sales.

The reason I find that odd is because I've been selling Canadian silver dollars on ebay for 18.50 each and I send my card hoping that I can somehow skip the ebay fees with a local buyer so that I don't have to sell so high and the buyer doesn't have to pay so much.

Thanks in advance for shooting me in the right direction! -headless chicken
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BStrauss3's Avatar
United States
4596 Posts
 Posted 05/13/2014  11:20 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
So you asked the revenue agency and don't like their answer. Wow. Now it sure sounds like you are asking a bunch of random strangers how to avoid paying the taxes they told you you will owe. Many of whom may not even be citizens of whatever country you live in.

I think you need to pay for qualified tax advice from somebody with a license to offer it or at least E&O insurance.

Otherwise you could spend a long time paying off your tax debt, or even live free of charge for an extended period as a guest of Her Majesty.
-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club
Owned by three cats and a wife of 40+ years (joined 1983)

Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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