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-   -   Purchasing something from an individual, tax? (https://www.revscene.net/forums/606511-purchasing-something-individual-tax.html)

dutch 02-20-2010 12:09 AM
Purchasing something from an individual, tax?
 
If I'm selling something to someone else, do I have to charge them tax legally? How does this work? I'm an individual and do not own a business.

I understand if you buy a car you end up paying pst when you insure at icbc. But what about regular items?

tiger_handheld 02-20-2010 12:27 AM
as long as ur business income is <30k you dont need to charge tax. once its more, u MUST charge, and remit to cra.

dutch 02-20-2010 09:36 AM
thanks :)

waddy41 02-20-2010 09:18 PM
if your profit is over 1000 then you have to pay tax

adrnlnrush00 03-13-2010 12:43 PM
Quote:
Originally Posted by waddy41 (Post 6825378)
if your profit is over 1000 then you have to pay tax
Do you mean to say income tax? I think the OP is referring to value added taxes like GST and PST.

adrnlnrush00 03-13-2010 12:45 PM
Quote:
Originally Posted by tiger_handheld (Post 6824626)
as long as ur business income is <30k you dont need to charge tax. once its more, u MUST charge, and remit to cra.
True; however, if you're a GST registrant then you have to charge taxes even if your business income is < $30K.

It's worth mentioning that if you are a GST registrant (even with business < $30K) then you'll be able to claim your input tax credits too!


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