posted on July 31, 2010 03:00:50 AM
You better go back and read the agreement when you signed up with Ebay and Paypal and AMZN and Yahoo etc.
I know in USA,IRS can ask Ebay for our transactions and PAYPAL sent out 1099 forms each year to us.
In some states and some cities within those states,occasional garage sales you dont need to get a license but some folks use their garage as a place of business conducting garage sale every weekend selling merchandise bought from wholesalers,so it is not really an occasion of disposing personal properties,it is a business.
Is the Australian Taxation Office (ATO) the Aussie version of our Internal Revenue Service (IRS)?
Some Ebay sellers claim they are just disposing their personal belongings so they dont report their proceeds to IRS?But after 10-15 years?
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on July 31, 2010 03:09:10 AM
I heard in the news last night IRS has hired more staff but the tax revenue has declined by 15% and the audits are becoming more complex.
I would not be surprised when auditing brick and mortar retailers,esp antique dealers,IRS would be asking if they sell online.
In one of the tax forms for reporting business income,IRS does ask if you sell online and to include your website URL (optional),but you can also deduct expenses such as attending trade shows,auctions,garage sales,mileage,shipping supplies,home office,camera,scanner etc,in the end you could report a loss.
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on July 31, 2010 05:26:51 AM
The reason i put this up is to let aussie sellers know that it can happen. I am all above board myself. The biggest bulk of my payments comes from overseas countries like the usa. canada & europe. Payments made by paypal credit card direct & paymate. All these payments have to come in thru my business bank acc. So i have to be correct with payments. My accountant sees to that.
But like america there is a lot of aussies who dont report these earnings and end up in trouble with the A.T.O. And yes your correct it is the same as your IRS. In every Australian state we pay 10% GST. On all sales and services that we transact in Australia. If we sell to say you guys we dont pay GST.
posted on July 31, 2010 06:05:49 AM
But your first statement -
YOU WANT PROOF THAT EBAY CANNOT BE TRUSTED IN REGARDS TO YOUR ACCOUNT. PLEASE READ BELOW. I JUST RECEIVED THIS TODAY OUR TIME.
is about Ebay not to be trusted.
Ebay is obliged to disclose activities on its website to IRS or any law authority and by signing up with Ebay we agree to allow Ebay to do so.
Read your agreement or consult a lawyer
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There is no 'Global savings glut',only wild horses and loose bankers.
posted on July 31, 2010 07:57:27 PM
I guess I don't get the "ebay cannot be trusted". Any business that does business with another business is required to maintain records. In the USA, there is a point where a business is required to send a 1099 to you if you receive money or even items of value (I believe this is over $100) for each tax year reflecting the amount you received or benefited from.
I saw that Key Bank is offering Free Ipod Touch 8GB if you sign up for a bank account. The disclosure states that they will send you a 1099 form at the end of the year based on the market value of the item.
You can't just get free stuff and not pay tax for it. Taxes pay for essential infrastructure that you benefit from. Things like roads, the mail system, government agencies that protect you against fraud, environmental hazards, and so on.
Stating that eBay can't be trusted because they provide this information to the revenue department in your country simply doesn't fly.
posted on August 1, 2010 09:11:22 AM
I'll add... there are things that eBay can't be trusted with-
1) Seller Protection against fraud
2) Making sure a buyer who deserves to be suspended is suspended.
3) Fixing bugs promptly when it is brought to their attention.
5) Following their own terms/agreements
6) Resolving issues fairly for both the seller and buyer.
7) Managing a rating system that is fair.
8) Keeping seller default settings in place.
9) Enforcing their policies against buyers.
10) Providing accurate shipping calculators.
11) Efficient and accurate search engine.
I don't think I need to go on, but there are plenty others.
