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Old 02-20-2010, 12:09 AM   #1
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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?
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Old 02-20-2010, 12:27 AM   #2
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as long as ur business income is 0k you dont need to charge tax. once its more, u MUST charge, and remit to cra.
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Old 02-20-2010, 09:36 AM   #3
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Old 02-20-2010, 09:18 PM   #4
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if your profit is over 1000 then you have to pay tax
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Old 03-13-2010, 12:43 PM   #5
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Quote:
Originally Posted by waddy41 View Post
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.
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Old 03-13-2010, 12:45 PM   #6
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Quote:
Originally Posted by tiger_handheld View Post
as long as ur business income is 0k 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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