on 11-07-2016 08:44 PM
Hi,
I have a used tablet that I want to sell so on eBay. Let's pretend that I've bought this tablet for $800, and now I am selling it on eBay for $400. Also eBay takes a chunk of this $400 (I think 20%, right?) so in the end let's assume I earn $320.
Do I have to declare this as revenue for taxation purposes, even though in practice I haven't earned anything (I had purchased the device for $800, I had paid GST for it, and now I am selling it for $320, so in practice I have lost $480).
Furthermore I am not a full-time seller. I only ocassionally sell my used items here on eBay.
Thanks in advance.
Solved! Go to Solution.
on 11-07-2016 08:59 PM
No, selling your second hand goods from your home n garage doesn't incur tax.
If you started buying to resell, that would incur tax.
eBay fees are 9.9% in most categories capped at 250 and if you are paid in PayPal there is a fee also of 2.6% plus 30c.
on 11-07-2016 08:51 PM
no
on 11-07-2016 08:59 PM
on 17-10-2017 10:33 AM
@kopenhagen5 wrote:No, selling your second hand goods from your home n garage doesn't incur tax.
If you started buying to resell, that would incur tax.
eBay fees are 9.9% in most categories capped at 250 and if you are paid in PayPal there is a fee also of 2.6% plus 30c.
You will also be charged GST on your eBay fees,(eg: 10 % of your 9.9% eBay fee that they charge on your
Final Value Fee's and postage).
Use caution selling a tablet or any other similar items as they are targets for scammers.
on 18-10-2017 08:05 AM
on 18-10-2017 09:57 AM
@kopenhagen5 wrote:Tazz, If the OP hasn't sold it by now, reckon it might be a little dated.
Another OUTDATED thread that should never have been resurrected,(I didn't look at the date of the last reply
before replying).
I'll report it for Inappropriate Content,