question Tax ID GoDaddy

[Time2Shine]

Greetings,

I found a domain that I would like to buy. It is a ".ca" domain. I do live in Canada.
GoDaddy gives the option for adding a "Tax ID." I don't know if it's mandatory or not, as I haven't attempted to skip past it.
This would be my very first domain. Do I need to get a Tax ID before I start, or is that something I can worry about later?
Which government department must I contact to get a Tax ID, should I need one?

Thanks.

 

[Time2Shine]

I will want to buy ".com" domains as well, if this makes any difference...

 

[ultradog]

Simply to register domains at Godaddy, you don't need one. Tax IDs are really for when you earn money, not spend it.

 

[Time2Shine]

Thanks for that.

Does a person need to set this up as a business before beginning to sell, or is it okay to get your feet wet first, and then set up a business later?

 

[bmugford]

Thanks for that.

Does a person need to set this up as a business before beginning to sell, or is it okay to get your feet wet first, and then set up a business later?

You don't need a business to buy and sell domains.

I doubt the majority of people who sell domains even have a business setup.

It can make sense for taxes and other reasons, but is not a requirement.

Brad

 

[Time2Shine]

I signed your petition, Brad.

Thanks for the response. Yes, I suppose if you want the benefits of running your own business; tax write-offs, etc., then it would be wise. Otherwise, people can probably do without, at least when just starting out.