PayPal ( Canada ) has received a Federal Court order to disclose information
 

Received yesterday an email from Paypal ... At first, you think it is phishing , but a closer looks shows it isn't .

Coincidence is that I just had to supply to CRA explanation and documents on a near 3,000.00 ( :1orglaugh ) expense on my 2016 tax report .... Thought it was just me, but looking further :

https://www.paypal.com/ca/selfhelp/a...equest-faq3755

https://i.imgur.com/lHPtA49.png

Some guys are going to shit bricks !!!!

Got that too. Don't do much through PayPal anyway.

never avoid paying big brother. in your case the maple man

This is what PP will supply in 45 days :

* The full name of every individual or corporation holding a business account that has a Canadian address;
* The date of birth of each individual holding a business account;
* The business name, if applicable;
* The telephone number(s) of the corporation or individual holding the business account, if available;
* The full address(es) of the corporation or individual holding the business account;
* The email address of the corporation or individual holding the business account;
* The Social Insurance Number and/or Business Number of the corporation or individual holding the Business Account, if available.
* The total number and value of received transactions for each calendar year between January 1, 2014 and November 10, 2017.
* The total number and value of sent transactions for each calendar year between January 1, 2014 and November 10, 2017.



Merry Christmas .... :1orglaugh:1orglaugh

Got that too, glad I pay my taxes...

sure sounds like it :2 cents:

another reason why bitcoin will get more and more popular

:thumbsup

it will take some time for that ...

When you get audited in Canada, the tax man is all over your Paypal account, just like your bank account. This includes contacting Paypal directly and asking for all of your records.

And bitcoin won't help you either. You can have all the bitcoin you want but when you trade it for CAD$, it becomes taxable income.

It's about time! Pay your taxes.

Brad

Always best to over claim and write off everything you can... If I ever get audited the first thing I'm going to say is "Did you figure out I really didn't make that much money?" next will be "Oh, I forgot to write this off. You guys owe me some money."

Using PayPal to hide income is REALLY dumb.

Bitcoin is either an income or a capital gain -- depending when you close your position and convert the crpyto into taxable currency -- same as a commodity contract.

If you 'buy' goods for crypto their value is income/capital gain -- whether you report that or not is your business (risk).