Australian Tax Office requirements

[wests1952]

Some time ago Ebay informed everyone that it must advise the ATO of all sellers that had sales in excess of $20,000 pa.  Recently I heard that the ATO has asked Ebay to advise them of all sellers that have sold in excess of $10,000 pa.  Has anyone else heard of this and if so when did Ebay send out the advice.  Thanks.

[davewil1964]

I haven't heard anything about that, but as all Australian taxpayers are required to declare all their income, from whatever source, it shouldn't be a problem.

Unless you are selling personal possessions, which would probably need some accounting for.

[putney32]

eBay have been giving sales figures to ATO for years.

All income derived from whatever source needs to be declared to the tax office, be it wages, ebay sales, commissions, whatever..

[harley_babes_hoard]

I thought it was 20,000 also.

[lyndal1838]

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@harley_babes_hoard wrote:

I thought it was 20,000 also.

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It has been changed over the years...the current limit will only be confirmed when ebay/the ATO announce this year's limit.

It really should not matter though...you are supposed to be declaring all income, not just the amount over the ATO limit for ebay to report to them.

[harley_babes_hoard]

Lyndal, The OP asked a very simple question. s/he did not need to be told to report all ebay transactions or income to the ATO.

[lyndal1838]

Harley, my reply was to you....the limit has changed over the years and no-one know what this year's limit will be until there in an official announcement from ebay or the ATO.

Just because it was $20,000 last year does not mean it will be this year.  The announcement is usually made closer to the end of the financial year.

Spoiler

[harley_babes_hoard]

ok so I don't need to be told to declare all income either. I already do, with my accountant. As most other sellers would. The op ask a question I answered it.

[davewil1964]

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@harley_babes_hoard wrote:

Lyndal, The OP asked a very simple question. s/he did not need to be told to report all ebay transactions or income to the ATO.

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From the tone of the question, I wouldn't be that sure of that. It seemed a bit panicky.

[lyndal1838]

That was my point Dave....if anyone needs to know the cutoff amounts before the ATO is notified it usually means that they have something to hide.  Sellers who are declaring everything don't worry about what is being reported to the ATO.