My father does business in Ukraine. I am an international student in Toronto.
He is selling goods on eBay internationally and I wants me to receive payments on my PayPal.
I contacted PayPal and they told me that they send reports about users who reach 200 transactions or $20,000 a year. In our case, we will reach and go over that point.
When I contacted Canada Revenue Agency, they told me that most likely it will be considered as personal income and I would need to pay taxes; however, they were not sure about that because the case is unusual. Also, I was told that if I receive money from my father directly - it will be considered as gift.
Do I need to pay taxes? Are there any ways I can receive money from eBay without paying taxes?
Thanks!
Key points:
- My father owns a business in Ukraine;
- My father sells goods world wide on eBay;
- My father wants me to receive money from people's purchases;
- I am an international student in Canada;
- I might or might not use the money.
