After speaking to an accountant casually I wouldnt stress too much about the ATO coming and knocking the door down of Ebay sellers in Australia. In fact my understanding now with the NEW tax write offs for small businesses being introduced anyone selling $150,000-$200,000 worth of goods would be considered a small fish.
In fact if you did do $150,000 worth of sales you probably wouldnt need to pay a cent in tax anyway with the new $20,000 write off.
I cant see how ANYONE could make much profit that would be taxable on just $150,000 worth of goods obviously depending on your mark up. But once you take into account the cost of the goods then the deductions for postage, envelopes, fuel, phone, internet, home office, pay for hours worked, etc etc AND THEN your $20,000 write off theres nothing left to tax.... so dont stress is my understanding.
And even if the ATO want to collect GST it will NEVER be cost effective and would almost be IMPOSSIBLE to implement. Once they make everyone become a business then there is also write offs and protections associated with running a business at a loss. And if Customs think they are going to hold EVERY item over $20 until duties is paid well then all I can do is laugh because that notion is riduclous.
The new $20,000 write off for business means youd need to be selling the equivalent of a small apartment in Melbourne before youd be paying anything in tax. That new tax write off is a game changer and my understanding is if you only sell as of now $150k worth of stuff the ATO is wasting your time making you collect GST and then there their time just giving it straight back to you after they again WASTE their time processing your tax return to begin with. Double and triple handling at its best.
He said there is sooo much that can be written off that you shouldnt even worry about getting a tax bill until over $150K in sales.
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