on โ08-08-2019 03:51 PM
on โ08-08-2019 04:29 PM
If you're selling for profit (trading) you are, by definition, a business or sole trader.
on โ08-08-2019 05:07 PM
The ATO has no information on your ebay income and expenses.....just income that is already documented such as wages or Centrelink benefits.
You need to enter your own figuress for ebay income and expenses.....and be sure you can prove the amounts with proper documentation.
on โ08-08-2019 05:26 PM
on โ08-08-2019 06:30 PM
Ebay provide to the ATO details of sellers who generate over $20.000 of sales a year.
Beyond that you need to determine whether your avtivity is as a "hobby" or a "business" when preparing your tax return
on โ08-08-2019 07:09 PM
It's been $10,000 for several years
on โ09-08-2019 09:20 AM
on โ09-08-2019 10:42 AM
on โ09-08-2019 11:53 AM
If it's a hobby then yes you can't claim expenses.
If you buy to then resell for a profit/loss then yes you can claim expenses.
on โ09-08-2019 11:58 AM
$18000 is the tax threshold.
I don't earn the same income every year,one year I could earn $20K and the next I could earn $5K.
I still declare it as an income with expenses but I'll then pay more or less tax depending on what I have earned.
I don't like the term hobby because if you're buying and then reselling then it's an income.
A hobby is if you sell some stuff around the house that you no longer want just like a garage sale.