tax for 2 years

[baby*toddler*child]

I have just been advised that I need to do tax for 2 years and have NO idea what to do.

Can anyone tell me where to start ? and if you can do a print out of all sales that let you know which ones where sold to overseas customers ?

I have bags of receipts, I used paypal and bank deposit also purchased stock from both local and overseas.

please any help would be greatly apprieciated.

sue

[soho_solutions]

"I rent"

Either get your landlord to split the bill into living area and business area rent or just claim a proportion of the rent for business.  However check your lease many do not allow the operation of any business on their property.  As said above don't claim part of your mortgage but you claim part of your gas, electricity (not rates), internet etc, but you must have records to justify any deductions.  Also you seem to have a lot of sales but of low cost items, GST registration isn't required until your turnover is $75,000 (I think) check ATO website  

http://www.ato.gov.au/businesses/content.aspx?doc=/content/00221985.htm&page=4&H4

Once registered you can claim the GST on business purchases against sales GST.

[motherbear2003]

The advice from my Accountant was also not to claim part of the house for business use, and there is an amount that includes gas and electricity which is dependent on how many hours you work.  If you're a senior citizen there's also an amount of $800 that can be claimed because of your age, and an "Entrepreneurial Allowance" of $283 for operating a business from home.  Not sure on the names of these allowances but the figures are correct; my tax returns etc are "filed" in my own filing system:^O

[baby*toddler*child]

I do have an accountant this is how I found out I needed to do tax.

problem is ebay selling is so unique that not many accountants have delt with it, that's why all my questions.

[baby*toddler*child]

phorum_junkie* I didn't ask these question to be shoot down or chastised but to seek help to get it right.

and NO I do not claim any form of centrelink so don't worry I am not ripping you or anyone else off.

Hubby works 2 days a week and my sales just pay for our expenses so at the end of the day I will probably loose my house and everything else to pay tax.

We are both in our sixties and still trying to make ends meet, so until you have all the facts do not point fingers.....................

[lyndal1838]

You have been selling regularly since 2007...Why is your accountant only telling you now that you need to declare your business income to the ATO?

Running an ebay business is not all that unique...it does not take any special accounting knowledge, just a common sense application of the ATO rules for claiming deductions for any business.

Oh, and the age argument will not wash here....many ebayers are in their 60s and older and still manage to run their ebay businesses by the rules...including PJ, who you were so rude about.

[love-your-smile]

"Hubby works 2 days a week and my sales just pay for our expenses so at the end of the day I will probably loose my house and everything else to pay tax."

ATO aren't that bad if you explain the situation and you will get a payment plan if there is a lot owing.

If you go to SELLER MANAGER PRO and SOLD, you can download all your sales. When you open them up in EXCEL it shows the Country. So you can arrange the spreadsheet by country.  It's easy to do if you know excel so hopefully you do.

[baby*toddler*child]

No my daughter in law started the business but it all got too much for her she has handed it over to me, after it was not trading for a period of time.

[baby*toddler*child]

Thankyou teeth-whitening I did do that but could only get 3months.

[baby*toddler*child]

lyndal1838  I do not feel I was any ruder to the so called PJ than they where with me.

[phorum_junkie*]

Why would you consider my post 'rude'. I in no way implied that you were doing anything wrong or received payments from Centrelink. This is a discussion board and the topic is ebay related tax so I made a general observation on something that happens every year.

It may serve the purpose of alerting those who have no idea that they should be keeping records or may have their details passed on to the ATO & Centrelink, perhaps if I had posted the same thing two years ago and you had read it you could have had all the information ready for your accountant and wouldn't have had to come here to ask how to acquire it.

I am sorry if you would prefer that everyone kept quiet about the realities of ebay life so that all members stay as uninformed as possible.