Tax rates/rules from selling on eBay?

[blackdeath]

I buy items from eBay at a discounted bulk price and resell them on eBay to make profit.
I do not make money any other way as I'm still at school.
I'm just wondering, what are the tax rules for this in Australia?
What amount of profit can I make up too before I have to pay tax on this?
And when I reach this amount, what are the tax rates for me? I am nineteen years old.
It's probably not a question about eBay but as I'm sure many people are doing this then I thought I would be able to get a good answer here.
I've been told different things from different people.
Thank you.

[craigoaus]

I was in a similar situation some years back, went and saw an accountant who said that if I called my eBay activities a hobby no tax was payable, but this was some years ago I would imagine that you could be up for tax once your profits exceed the minimum amount set by the ATO a person can earn before paying tax which was again some years ago about $5000. If you are making a decent amount of profit I would suggest seeing an account as these guys are more slippery than Paypal and can find you all sorts of deductions to reduce any tax bill...

[ultimabond]

you can make a PROFIT of $6000 a year without having to pay tax and as long as your REVENUE does not exceed $75,000 a year you do not have to register for GST although honestly I wouldn't worry about it the chance the ATO will audit a 19 year old uni student with no assets to their name would be less than 1% i would imagine.

[GreenBean]

Regardless of what amount is earnt, taxes may be payable. (GST etc).

Therefore see a tax accountant.

Forum does not do tax advices. The info may be incorrect and of damage to you.

ATO also have a reasonably well laid out site with info & contact phone numbers

Australian Taxation Office Homepage

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