wheelinround
13th September 2007, 07:10 PM
Not grumblin but after 5 years on disability I have now got to go back and do tax for past 5 years and do tax for from now on also.
Apparenlty its New thing
After being advised by ATO, Centrelink & accountant we wouldn't need to do anything.
No worries haven't made a $$ that I haven't spent more on in materials or time for things I have made for people whom paid me rather than let me do it for FREE.
But you never know might have to sell off everything.
Had a good long talk with the fellow though regarding the difference between hobby/craft and business if/should my health improve enough to produce woodwork worthy of markets e-bay etc.
Regardless a reciept of some sort should always be issued and persons details who is purchasing it. E-bay has become a hot spot for centrelink and ATO watching for Aussie sellers who are constantly selling either auctions or pure sale.
This for a number of reasons.
1 it covers you and keeps account of what you have sold dates etc
2 should you increase your output all sales during that year are taken into account of course this includes GST payments etc. The you can also claim benifits tools materials tuition.
Of course registering for an ABN is paramount to much at all.
Oh well the next week or so will be spent ringing Gov departments etc.:doh:
Apparenlty its New thing
After being advised by ATO, Centrelink & accountant we wouldn't need to do anything.
No worries haven't made a $$ that I haven't spent more on in materials or time for things I have made for people whom paid me rather than let me do it for FREE.
But you never know might have to sell off everything.
Had a good long talk with the fellow though regarding the difference between hobby/craft and business if/should my health improve enough to produce woodwork worthy of markets e-bay etc.
Regardless a reciept of some sort should always be issued and persons details who is purchasing it. E-bay has become a hot spot for centrelink and ATO watching for Aussie sellers who are constantly selling either auctions or pure sale.
This for a number of reasons.
1 it covers you and keeps account of what you have sold dates etc
2 should you increase your output all sales during that year are taken into account of course this includes GST payments etc. The you can also claim benifits tools materials tuition.
Of course registering for an ABN is paramount to much at all.
Oh well the next week or so will be spent ringing Gov departments etc.:doh: