eBay will provide tax authorities with information about merchants who made more than $20,000 worth of sales during the tax year that ends this month.
According to eBay, the Australian Tax Office and Centrelink, an Australian government statutory agency, asked eBay to provide the contact name, address, telephone number, e-mail and IP addresses, user ID, date of birth, date of registration with eBay, monthly and annual sales volumes and values, PowerSeller status, and eBay Store status of sellers who meet the minimum requirement.
eBay is legally required to comply and will begin providing authorities with this information in August, the company notes in its General Announcements. eBay adds that it may also be required to provide bank account information.
The Australian government is not the first to ask eBay to provide information on sellers. In 2009, the Canada Revenue Agency asked the company to do this. Last year in the U.S., payment processors like PayPal were asked to provide the IRS with information on sellers who make more than 200 transactions and have a total transaction volume of more than $20,000. That requirement takes effect this year.
Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.
Other Entries by this Author