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@kitty-kat-kollection wrote:
In terms of general stuff, I've heard that you can earn up to $8,000 for those earnings to be classed as a hobby, but above that...not really.

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'Hobby" to the ATO doesn't mean the same thing as it does to a regular person - they don't care if you enjoy doing it or not, or if it's something you only do in your spare time, which is how many people define and carry out their hobbies. They also don't care how much you earn by doing it in terms of total revenue. Officially, there is no threshold for the earnings - you can make a loss and still be classified as a business. 

If you buy to re-sell, particularly with the general intent to make a profit, it's a business for ATO purposes, regardless of the amount involved. 

If you make stuff (eg knit beanies) and sell them at cost so you can cover your expenses and continue to make stuff, they'd classify that as a hobby.