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.

[lyndal1838]

Whether you have an ABN or not you should be declaring any income.

The only reason I can see for having an ABN for ebay is to be able to purchase from wholesalers so you can sell the items on ebay. In this case you must declare your income as a business.

If you are just selling items from around the house it may be better to use another ID so you can keep the sales completely separate as they are hobby selling.

The cutoff amount for ebay to tell the ATO has not been announced for the 14/15 tax year as far as I know....it is usually announced retrospectively.

[clearskies1623]

so if I start selling off my collection of reading material (books) that I have collected over 40 years, have read and now wish to get rid of you think I should consider that income and declare to the ATO?

[lyndal1838]

That question can only be answered by you.....if you are on any sort of Centrelink benefits you should at least declare the income to them.   They have different rules to the ATO.

If you are not on Centrelink benefits there is no need to declare the sale of your secondhand books to the ATO...it is hobby selling only.

[davewil1964]

So after 2 years you feel a need to drag up an old thread to have a shot?

The OP was talking about trading, not selling personal possessions, and I answered accordingly (I think. From what I wrote. I certainly don't file details of what I post on the boards and can't remember the particular day 2 YEARS ago).

I don't declare my personal sales. I do keep a record of them, especially as I sell them on my trading ID.

But I don't have anything to do with the Department of the SS Centrelink

[streetwearhiphop]

I have questions if I make under $10000 am I still have to declare my tax . And one more thing why can't ATO chase the ebay rather than chasing us. People like us always getting **bleep**ed But ATO don't have the power to **bleep** with big companies this is **bleep**ed 😑

[streetwearhiphop]

I have questions if I make under $10000 am I still have to declare my tax?

[lyndal1838]

Looking at what you are selling I would say you are definitely a business seller and as such you have to declare ALL your income to the ATO from the very first $$$.

[chameleon54]

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@streetwearhiphop wrote:
I have questions if I make under $10000 am I still have to declare my tax?

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As Lyndal says it looks like a business to me, but by the time you claim for stock purchases, internet connection fees, freight, stock depreciation, ebay fees etc. you may not have to pay much tax. You only pay tax on business profits, not on total sales.

[davewil1964]

Another compulsive poster.

I wish your compulsion was to actually post something. 

A bonus would be something relevant, but something would be a start.

As you appear to be a buyer, the relevant might be a stretch.