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Question for all the Canadians


TheJCR
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You do realize you have to report that yourself... Right?

 

In America, if you get like $20K or have 200 transactions, PP tells the IRS

 

In Canada, it's an honor system so you have to report it yourself

Important to note that it's net profit that you report. If you, for example, spent $2k on bots/scripts etc, and made 20k, you wouldn't need to report it. I think, anyways (feel free to correct me.)

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I don't know the system myself lol, that's why I'm asking others.

 

So you're saying that you would need to report 18k b/c 20k profit - 2k expenses.... But can you write off 100% of the expenses.... ???

As far as I understand. I'm not a tax expert nor an accountant. So I'm not going to deny anyone saying I'm wrong.

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