This is my hobby. Can I continue to without ABN and bank account in my name solely?

[alfastamp]

This is my hobby. Can I continue to sell my collection without ABN and bank account in my name solely?

[lyndal1838]

You do not have to have an ABN to trade on ebay.

To be on managed payments you do have to have a bank account with the same name and address as you have on ebay.....you need to produce ID with matching details.

[davewil1964]

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@alfastamp wrote:

This is my hobby. Can I continue to sell my collection without ABN and bank account in my name solely?

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I hope your hobby involves reporting income to the ATO. Over 7000 feedback, and doubtless many more sales, in two decades, would tend to indicate selling for profit.

Yes, you will need to register for MP. No, you don't have to have an ABN.

[imastawka]

16,421 feedback as a seller.

If you are buying to resell, that is not a hobby.

It's a business.

[pubstuff]

>I hope your hobby involves reporting income to the ATO. Over 7000 feedback, and doubtless many more sales, in two decades, would tend to indicate selling for profit.<

over 7000 feedback and over 2 decades (over 7300 days) equals approximately 1 item per day if the feedback is for sales only. im assuming that you have gone thru all their feedback for 20 years to confirm any feedback left was as a seller only before you made that grand statement because if not, your figures are just a lazy assumption. I sell on ebay, but have probably bought more, so my feedback will be both. im assuming others like the OP are much the same unless a seller only account which of course should be reported earnings.

[pubstuff]

alfastamp (the original poster) has 7403 total feedback that i can see, where does 16421 seller feedback come from?

even so, how do you know that the OP doesnt have millions of stamps (or whatever) and is selling excess from thinning out their own extensive collection or unwanted as their taste or focus changes? not everyone who sells a lot of things is a business, some are just collectors who buy and sell all the time to improve their own personal collections. selling is part of life when collecting unless you are a hoarder or someone with unlimited storage space.

i have more than several thousand items collected over 40 years. i have purchased large lots in the past because it included items i really wanted or considered rare, but also included stuff i really didn't want but had no choice due to a seller not wanting to split anything up. those items usually go to gifts for friends or go to ebay to get rid of to get some return on (not necessarily profit), but if i decide to sell my own collection of several thousand items from over 40 years on ebay, does that then make me a business, rather than a collector who is parting with items purchased decades ago?

as i see it, i am going to have to explain to ATO where (for instance) $30k in my bank account has come from if i decided to sell just my neon sign collection on ebay only and therefore likely be assessed as earnings liable to be taxed despite being strictly personal items.

[imastawka]

If you click on a person's feedback number, it shows the feedback page with all feedback.

There is also the option to click on fb as a buyer and fb as a seller.

Your fb as a buyer is 1586, and as a seller is 5777.

So you are actually more a seller than a buyer.

Not up to me to sort out whether it's a hobby or a business, but the ATO

[magpie_army]

Wisely put imastawka,...  You Nailed it.  Not Hard to Workout what is what Here, the Facts tell the TRUTH !!!

[k1ooo-slr-sales]

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@pubstuff wrote:

>I hope your hobby involves reporting income to the ATO. Over 7000 feedback, and doubtless many more sales, in two decades, would tend to indicate selling for profit.<

over 7000 feedback and over 2 decades (over 7300 days) equals approximately 1 item per day if the feedback is for sales only. im assuming that you have gone thru all their feedback for 20 years to confirm any feedback left was as a seller only before you made that grand statement because if not, your figures are just a lazy assumption. I sell on ebay, but have probably bought more, so my feedback will be both. im assuming others like the OP are much the same unless a seller only account which of course should be reported earnings.

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this screengrab shows where to find total selling feedback, and where the 16,471 figure comes from:

[magpie_army]

                                & a Very Proffitable one $$$$$$'s  🏦