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 Replies: 10 / Views: 2,331 |
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Pillar of the Community
Australia
2830 Posts |
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Bedrock of the Community
13014 Posts |
Im really on the fence about this. I get where theyre coming from, but at the same time say you sell things on ebay for less than you paid you arent making any sort of profit on it. At least right now its only going after large online sellers but at the same time just because you have sold that much doesn't mean youve done anything wrong |
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Pillar of the Community
 Australia
2830 Posts |
The Australian Taxation Office has been following ebay for some years. But, as I understand it, some years ago, ATO ruled that income or expenditure from a "hobby" isn't taxable. So, if I trade coins at a loss, I can't claim a deduction ... but in the years that I have a surplus, I don't have to pay tax on that. Of course, the burning question is: when does a hobby become a business ? Of course, if I want to access deductions for depreciation, office-space, etc, then I'm a business. And, it seems, if I consistently turn in losses, then it's a hobby. But this is CentreLink - which I think equates to your Social Security. Recipients of benefits are often subject to limits on income from other sources. I'm wondering whether CL will apply the same criteria as ATO, or not ... ? For the record, there has been a big debate in Australia about ebay & Customs Duties. For the time being, most imports of items purchased ebay are exempt. |
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Bedrock of the Community
13014 Posts |
Im sure if this goes through its only a matter of time till CL is next. I just dont like the idea of people being taxed if they sell a 20 dollar item they bought for 30. If youre making money on everything thats different, but it seems that it would be too easy to find prices that are so close to what you paid if not more that its just a lot of wasted government resources. It really shouldnt be that hard to figure out what businesses are selling as most say their name in the description and you can find their other websites very easily without having to have massive amounts of ebay accounts put under suspicion. Not sure how it is there but in the US when it comes to tax law youre guilty until proven otherwise instead of the other way around |
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Moderator
 United States
23522 Posts |
I think Centrelink might compare more closely to our Welfare. Either way, though, since income level is a major qualification for their services, they are well within their rights to identify and smack down those who are making "undeclarable" income on ebay whilst accepting Centrelink assistance. |
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Bedrock of the Community
Australia
21788 Posts |
I don't use ebay, I don't have a credit card. Pay all of my utility bills at the Post Office (which is next to the bank), in cash. I have done a weekly budget for most of my life, buy everything for cash, except my house; that was paid off 22 years ago. Since I only use cash, Centrelink ain't never gonna catch ME! Edited by sel_69l
07/10/2012 02:12 am
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New Member
Australia
48 Posts |
Those who are doing the wrong thing and breaking the law should be the only ones worried about this.
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Bedrock of the Community
Australia
21788 Posts |
Legally, the hardest people to catch are those who comply WITH the law!
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Bedrock of the Community
United States
14454 Posts |
not sure why you would need to catch the ones that comply with the law, can you please explain that to me?
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Bedrock of the Community
13014 Posts |
Quote:
Those who are doing the wrong thing and breaking the law should be the only ones worried about this. Not sure how it works there, and I do agree that anyone on government assistance shouldnt be hiding income to keep their checks coming, but in the US when it comes to tax law if the IRS comes after you its up to you to prove that you did nothing wrong instead of them proving you did. That said we also have a lot of problems with people getting welfare that shouldnt be getting it. Even had one woman in Michigan win the lottery and keep getting her checks till the news exposed her |
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New Member
Australia
48 Posts |
If an Australian citizen is claiming government benefits such as unemployment benefits, pension benefits, sickness benefits etc. and have a business on ebay and don't declare that income to the government, they are breaking the law and disrespecting hard-working Australian taxpayers. People who do this might get away with it for a while but it's only a matter of time before they get busted. Life will catch up with these kinds of people. |
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Replies: 10 / Views: 2,331 |
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Posted 07/09/2012 8:15 pm
