What sells on eBay?
- Thread starter Winmar
- Start date
Goreripper
Metal as fuck
So get an ABN. They are shit easy to get. Just fill out a form and you're a business. Then you can get business rates on all sorts of shit from cars to CD-Rs. Having an ABN is the biggest scam in Australian history.
Goreripper
Metal as fuck
It does make filling out a tax return into a small nightmare. You have to fill out the main return, plus the supplement, plus the Business and Professional Items and basically put the same thing on all three, but you can write off just about anything and decrease your taxable income so you get shitloads back. Last year we got back about $5000 between us. I even got the guy who vacuumed our carpet to write a tax invoice so I can claim it as a business expense. The paperwork is a shitfight, but the benefits even it out.
KoichCPA
Banned
Goreripper
Metal as fuck
Even better. I'd get an accountant, except they cost too much. But you can claim them as expenses too. ABNs are awesome things to have.
Goreripper
Metal as fuck
Nah mate, go for it. The coolest thing is that you qualify as an ABN holder if you make as little as $50 a week from private enterprise outside your regular income. So you can do fuck all, sell a service or good for $50 once a week (or not even that often) and you qualify as a business and can claim percentages of your rent, internet usage, phone and bills etc. as tax deductions. As I said, it's the biggest scam in Australian history.
KoichCPA
Banned
If you couldn't be fucked actually running a business though, you give your mate 50 bucks, and get him to say you mowed his lawn. He gives you back your money, and a legal transaction has taken place.
Goreripper
Metal as fuck
Technically, you have to stipulate what sort of business you're running. If you're selling t-shirts over the Internet and then claim income from mowing a neighbour's lawn you might cop a nice visit from an auditor. But apart from that, it's a pretty easy scam.
KoichCPA
Banned
That'd narrow it down. I wonder what category it'd fall under.Do you have to make $50 a week on average to get one, Brian? That'd be $600 a year. I'm pretty sure you have to make $50k to be required to get one, but I didn't know there was a minimum amount. I deal with ABNs all day long, but have never looked into getting one. Hmmm I might have to look into this more thoroughly.
Thanks for the leg-up, Mark! I'll do a bit of research based on your advice.
Info on ABNs (and getting one): http://www.ato.gov.au/businesses/pathway.asp?pc=001/003/021&mfp=001&mnu=59#001_003_021
Goreripper
Metal as fuck
No, you need an ABN if you make more than $50. You only need to register for the GST if you make more than $50,000. But it's easier if you do both because, who knows, you might start off making a few bob here and there and then suddenly hit the jackpot, and if you haven't registered for GST, well then you're fucked.
Mark
Not blessed, or merciful
I believe that's right. I had an ABN (and never made a cent) before I left Australia; I did have to put in a business tax return, even though it stated I'd had no income. I think. Shit, that was years ago now 
Good luck with the CD thing, though! If you ever need a UK source for CDs, singles etc, let me know.
Good luck with the CD thing, though! If you ever need a UK source for CDs, singles etc, let me know.
Bucko
Member
Funny how a thread about WHAT SELLS ON EBAY, developed into hints on how to minimise tax & creative accounting hahhahahhah
phlogiston
Bejabbers!
I've had an ABN for a couple of years now, and never made anything on it either. All I do is lodge nil-activity statements every quarter, and do regular tax returns. If I ever made money on it then it might be different, but I don't, so it doesn't matter.
I'm probably not using it to its full potential, either, but doing that sounds like work so I don't bother.
I'm probably not using it to its full potential, either, but doing that sounds like work so I don't bother.
