I am currently downsizing and selling off heaps of excess stuff that I wont need in the future.

[fairys*in*my*garden]

Does anybody know what is the limit for selling before eBay pass on sales information to the Tax Office? I had been told that if it was just a hobby, there was no issue. Do any members know what the guidelines are? Thanks in advance.

[lyndal1838 · Accepted solution]

Last year the lower limit was $10,000 turnover....this year's amount will not be announced for a few weeks yet.

That is not the amount that you will have to pay tax on....it is your total turnover.  You only pay tax on your profits after all deductions are taken into account.

You should be declaring all income to the ATO, not just waiting for them to get the information from ebay.

You are correct in that hobby selling is non-taxable and anyone just selling things from around the house usually don't pay tax at all but you need to declare it especially if you are also dealing with Centrelink...their criteria is more restrictive than the ATO.

The usual guidelines are that you are a business if you are buyuig goods to resell on ebay.