I still don't really have much of an idea how this whole taxes thing works at all since I'm only 20 and my dad has always taken care of it for me. I recently started selling some things on kijij and ebay and I'm wondering if this would be considered a business. And if so, how does deducting business expenses work? I really don't understand this at all. Also, what exactly could be considered business expenses? Ebay listings? Shipping materials? My PO box? The materials I use to fix up the used furniture I sell on kijiji (paint, sandpaper, drawer pulls)? What about the furniture itself and other items I sell? A new, faster computer? Where is the line drawn?
I kind of feel like an idiot asking this, so please don't be too hard on me. I'm sure you were all as young and uneducated as me once. :P Thanks for your help.
Read more: Is money earned selling things on ebay and kijiji considered taxable income (Canada)?
