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Mike
Joined: 29 Dec 2005
Posts: 120
Location: Ontario, Canada
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 Posted: Wed Mar 29, 2006 9:11 pm Post subject: commision income |
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I'm just curious. When you report commision income from clickbank, commision junction, etc. would it matter if the check came from the US or anywhere else? I'm not quite sure how it works. I'm from ontario, so if there are any other ontario affiliate marketers your help would be very appreciated. Thanks  |
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boysbach
Joined: 27 Dec 2005
Posts: 195
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| Posted: Thu Mar 30, 2006 12:15 am Post subject: |
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Hi Mike I am from the UK and I know CJ has a branch or whatever there. They pay once a month directly into your bank account so no cheque involved from them. Also they send us a newsletter as to what is hot in the UK so you can focus on those items.
Clickbank sends a cheque which means in the UK if it is in $ then you lose money when it is converted into £ |
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Mike
Joined: 29 Dec 2005
Posts: 120
Location: Ontario, Canada
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| Posted: Thu Mar 30, 2006 3:05 am Post subject: |
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| thanks, but that's not quite the answer I was looking for. What I'm trying to ask is..would you report the income to the government as a service income? |
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richerbrat
Joined: 12 Feb 2006
Posts: 137
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| Posted: Thu Mar 30, 2006 8:52 pm Post subject: |
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| Mike - do you mean tax? i am from the uk also, and you have to pay tax no matter where you get the money from. i should imagine that would be the same in Canada, but you should check your governments website all the same. |
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Mike
Joined: 29 Dec 2005
Posts: 120
Location: Ontario, Canada
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| Posted: Thu Mar 30, 2006 9:33 pm Post subject: |
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| richerbrat wrote: | | Mike - do you mean tax? i am from the uk also, and you have to pay tax no matter where you get the money from. i should imagine that would be the same in Canada, but you should check your governments website all the same. |
Yes I do mean tax. I mean if I received commission income from the US would I just report the amount in canadian dollars, or would it be considered importing/exporting because the goods are sold in another country. Or does that not matter with a commission sales-person? |
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boysbach
Joined: 27 Dec 2005
Posts: 195
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| Posted: Fri Mar 31, 2006 12:35 am Post subject: |
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Hi Mike
Not sure what the position is in Canada but in the UK (I used to be a tax accountant before getting online) we would have to report money received from foreign business in dollars. There would be certain taxes that are not applicable on it but as far as income tax goes it doesn't matter where you earn your money.
With CJ they have sent their reports in Sterling so the money is received in sterling. Not sure if they do that for Canada but for me most of my income comes through them so it is done in UK in UK currency.
Bev |
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Mike
Joined: 29 Dec 2005
Posts: 120
Location: Ontario, Canada
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| Posted: Fri Mar 31, 2006 7:54 pm Post subject: |
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| boysbach wrote: | Hi Mike
Not sure what the position is in Canada but in the UK (I used to be a tax accountant before getting online) we would have to report money received from foreign business in dollars. There would be certain taxes that are not applicable on it but as far as income tax goes it doesn't matter where you earn your money.
With CJ they have sent their reports in Sterling so the money is received in sterling. Not sure if they do that for Canada but for me most of my income comes through them so it is done in UK in UK currency.
Bev |
Thanks for the reply. Anybody know if they do it in Canada? |
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Rosalind Gardner
Site Admin
Joined: 02 Nov 2005
Posts: 803
Location: Beautiful BC, Canada
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| Posted: Fri Mar 31, 2006 9:32 pm Post subject: |
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Hello Mike,
Rosalind here. As you are probably already aware, I live in B.C.
Unfortunately, no matter where it comes from, income is income and must be reported as such.
Just make sure you keep track of all your sources and don't forget to tally up your expenses as well!
Hope that helps.
Cheers,
Ros |
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