Information About Us Tax Information Privacy Policy Contact Us Home	CRA News Release: eBay Sales Minister Blackburn (Minister of National Revenue) wants taxpayers to know "...that the tax laws that apply to traditional commerce apply in the same way to electronic commerce, like eBay selling". The News Release reports: "As a result of a Federal Court of Canada decision, eBay Canada has provided the Canada Revenue Agency (CRA) with the names of eBay sellers as well as their contact information and sales records." What this means is, if you are an active seller on eBay, you have business income to declare. And where there is business income, there are business expenses. Your purchase price for the item sold is the most obvious expense. Also deductable are auto expenses and home office expenses, pro-rated to your actual business use. The CRA expects to begin conducting audits based on the information provided by eBay at the end of Summer 2009. In general, the CRA only looks back 3 years, but they reserve the right to go back further if there is evidence of non-compliance. Taxpayers can avoid paying fines and penalties if they voluntarily disclose new tax information. This disclosure must occur before the CRA contacts the taxpayer in order for the fines and penalties to be forgiven. Taxpayers are permitted to request adjustments to their income tax returns back 10 years. CRA Voluntary Disclosures Program	Mission Statement To provide superior accounting services tailored to each client’s unique situation.