If you are selling on eBay for profit, always keep track of all your business records and hire an accountant to file your income tax.
For most Canadian eBay Sellers, you will have Buyers from Canada and outside of Canada. If you are collecting the GST/HST and PST, ensure that you keep perfect records of your Canadian Customers.
Most bookkeeping software programs such as the QuickBooks Pro 2011, Canadian editionwill have this function. If you are using the old fashion journals for bookkeeping, keep all of your Canadian Customers orders in a separate file folder and also record their purchased amounts, including the taxes on a spreadsheet file.
Treat your eBay business as a “business” and it will grow like a business.
For more information, please contact your accountant for assistance.
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