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@k1ooo-slr-sales wrote:

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@marwi5023 wrote:
No, I've never declared anything to do with my hobbies as income. I paid tax on my hours working in my job.
I've had been buying cars and selling parts since I was seventeen

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if you were buying the cars to sell off the parts then the ATO would not consider that as a hobby.

 

You might think it's a hobby, your family might call it a hobby, but the ATO might think otherwise.

 

The ATO have a webpage "Online selling - hobby or business?" where they pose questions to help assess whether the activity was a hobby or a business for tax purposes.

 

One key point is that the ATO might consider a person's online, or offline, activity as a business even if the person does not register as a business.

 

https://www.ato.gov.au/Business/Starting-your-own-business/In-detail/Online-selling---hobby-or-busin...

 

With data matching technology always on the improve the ATO will catch more and more "hobby sellers" regardless of the turnover threshold the ATO has on eBay members.

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Sounds a lot like what I have done over the years. When it was smaller scale, I would go to vintage car parts swap meets and set up a stall. I would have a look around and buy a few things I wanted myself and sell a few things to pay for my day out. I would do up a few old cars for my own use, buy a few wrecks for parts and sell off the bits I didnt need. That was a hobby and I didnt declare my activities to the ATO.

Now I buy vintage & classic car parts and similar items specifically to resell for a profit. I have no intention of using the parts myself. That is a business and I declare all of the profits to the ATO.