Tax rates/rules from selling on eBay? - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > International eBay & Paypal Discussions > Australia eBay & Paypal

Australia eBay & Paypal General discussions about eBay.com.au Suspensions and Paypal.com.au limited accounts. This forum is geared towards AU.

Closed Thread
 
Thread Tools
  #1  
Old 05-07-2011
Junior Member
 
Join Date: Oct 2010
Posts: 26
Thanks: 0
Thanked 5 Times in 4 Posts
Activity: 0%
Longevity: 72%
iTrader: (0)
Default Tax rates/rules from selling on eBay?

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.
The complete step-by-step guide to get back to selling today!

  #2  
Old 05-07-2011
craigoaus's Avatar
Junior Member
 
Join Date: Dec 2007
Posts: 251
Thanks: 31
Thanked 34 Times in 29 Posts
Activity: 3%
Longevity: 93%
iTrader: (0)
Default

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...
  #3  
Old 05-16-2011
Junior Member
 
Join Date: May 2011
Posts: 5
Thanks: 1
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 67%
iTrader: (0)
Default

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.
  #4  
Old 06-09-2011
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,039
Thanks: 5,510
Thanked 9,030 Times in 7,038 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default

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

Welcome to the working world
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Closed Thread



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Which bank has the highest interest rates for savings, and cds? Red X Everything Else 13 05-04-2011 12:54 PM
Vumbers rates increase. Its still the #1 choice IMO Burst Phone Number Verification 5 01-30-2009 05:14 PM
New / Latest U.S. Postal Rates retard eBay Discussion! 1 05-16-2008 06:29 AM
eBay announces reduction in rates for media sellers! ebayvictim eBay Discussion! 1 02-12-2008 12:40 AM
Merchant account discount rates Jonas Everything Else 0 11-15-2007 06:39 PM


Aspkin Group

All times are GMT -5. The time now is 01:01 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts