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Old 08-29-2018
ceb ceb is offline
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Default Obtaining an ABN for stealth account?

Hey guys, I've had a brief chat to an accountant about my eBay income (haven't mentioned that I'm stealth) and they've told me in order to declare my income I need an ABN. (Income was only $5000 last financial year)

Will obtaining one link me to my identity?
I know nothing about what info is required to obtain one, so forgive the ignorance!

Any advice much appreciated.
Cheers
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Old 08-30-2018
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Default Re: Obtaining an ABN for stealth account?

your ABN is linked to your identity. it is not linked to your ebay or paypal acc. it is just like your tax file number, except it's for your business. they can see your income flow through your bank automatically and see that it matches roughly what you report on your taxes.
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Old 09-14-2018
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Default Re: Obtaining an ABN for stealth account?

You can add your ABN to your ebay account for GST exclusion on fees, but in the case of stealth accounts I would think it would be an unnecessary risk. You can just claim the GST on the fees (if you are registered for GST) on your BAS anyhow.
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