topic Re: What do I need for the ATO? in Selling

What do I need for the ATO?

sonj8v8n — Fri, 09 Aug 2013 09:31:40 GMT

What do I need to print out to take to my accountant to show my income from ebay? I've been searching but can't figure it out...

Thanks in advance for any help

Re: What do I need for the ATO?

putney32 — Fri, 09 Aug 2013 09:41:51 GMT

check in selling manager

but you should have been keeping records all year, every month you sales, how much you've collected and then paid out for postage / stationery, ink, packingmaterials etc.

how much your paypal fees and ebay fees and bank charges were etc.

cost of initial stock / amount of stock left at eofy etc.

your accountant should have set all that up for you when you started yr little ebay business.

keeping track of it all either on a spreadsheet on your computer or at least in a note book makes it easier (and cheaper) once you get around to lodging your return.

Re: What do I need for the ATO?

sonj8v8n — Fri, 09 Aug 2013 09:58:32 GMT

Thanks for that, I'll see if I can find it. I only started doing it seriously a few months ago and didn't expect to make enough to have to report it.

Re: What do I need for the ATO?

putney32 — Fri, 09 Aug 2013 22:33:57 GMT

sonja you have to add ebay income to all your other incomes, no matter how small, for tax purposes