Online retailer eBay opens data to taxman
Last Updated: Monday, November 17, 2008 | 11:59 AM ET
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As more Canadians buy and sell online, retailer eBay Canada says it expects to disclose information on its so-called "power sellers" to Canada Revenue Agency this week.
The release of data is in response to a ruling by the Federal Court of Appeal last April.
The court ordered eBay to turn over to the tax agency the names and gross sales figures of Canadians who earn at least $1,000 a month from online sales for three straight months.
In a recent letter to affected customers, eBay said it strenuously objects to the federal requests, but it must comply.
In 2006, Revenue Canada started looking into whether power sellers had reported all their eBay earnings on their 2004 and 2005 income taxes.
It's estimated about 32,000 Canadians make all or part of their income selling on eBay.
Meantime, many more Canadians are shopping online, with 2007 sales rising to $12.8 billion, Statistics Canada says.
With files from the Canadian PressShare Tools
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