ATO knows about your ebay sales

ebayDo you sell “stuff” on ebay?  Are you just clearing out unwanted junk at home, or are you making a business of it?  If this is your business, make sure you’re declaring all of your sales income on your tax return.

The Australian Taxation Office (ATO) are always performing data matching between various sources.  The current area they appear to be targeting is ebay selling.  We have already received calls from the ATO wanting to discuss ebay sales made by clients to ensure they are complying with the tax legislation.

Please ensure that making a bit of cash on the side does not leave you in trouble with the ATO.  If you would like to know if your selling is a business or not, please contact us.

About

Ian Shaw is the newest partner at Alliance Business Partners, joining Jenny Smith after 15 years at the firm. A graduate of Queensland University of Technology, Ian Shaw earned his Public Practice Certificate from the Institute of Chartered Accountants in 2013 after already being admitted as a Chartered Accountant in 2006. Ian has a passion for helping business owners grow their business to achieve their goals.

Tagged with: ATO, Audit, Business
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