topic Re: Tax Return in Selling

Tax Return

karma4dharma — Fri, 29 Nov 2019 19:54:28 GMT

How do I get total sales for past twelve months for tax return?

Regards

Re: Tax Return

lyndal1838 — Fri, 29 Nov 2019 20:51:49 GMT

You should have kept your own records.

If your turnover is high enough ebay will notify the ATO of your turnover but that includes unpaid items etc.

Try your paypal account and your bank account.

Re: Tax Return

karma4dharma — Fri, 29 Nov 2019 20:55:24 GMT

It started as hobby and I was not thinking about tax returns.

Re: Tax Return

eol-products — Fri, 29 Nov 2019 21:26:36 GMT

As most sales are via paypal you can download a report for each year.

Re: Tax Return

karma4dharma — Fri, 29 Nov 2019 21:29:40 GMT

Hi
Will do
Many Thanks

Re: Tax Return

karma4dharma — Fri, 29 Nov 2019 22:00:26 GMT

Never done this before so just need some Help.

Going through Paypal download report of transactions,bit confused.

Ebay auction payment example.

Ebay auction payment -$60 are my purchases?

Ebay auction payment $60 are my items sold?

Regards

Re: Tax Return

imastawka — Fri, 29 Nov 2019 22:21:24 GMT

https://community.ebay.com.au/t5/Selling/How-to-find-sales-for-last-two-years/m-p/2246336#M186687

Re: Tax Return

toynbook — Sat, 30 Nov 2019 07:22:09 GMT

yes, true. I downloaded the details from PAYPAL, and give a summary sheet to Centrelink to report my last 12 months profit on eBay.

Re: Tax Return

brerrabbit585 — Sat, 30 Nov 2019 10:50:24 GMT

Your ebay invoices are available for 18 months so you can easily get your sales figures from there. Just go to Account and then to invoices. If you had any cancellations you can always see the refunds in paypal.