From Facebook Marketplace to Vinted, online selling has become an easy way for Australians to make extra money or clear out unwanted items. But when do these sales need to be declared to the Australian Taxation Office (ATO)? Tax agent Nitin Saby explains how buying to resell, how often you sell and your intention to make a profit can determine whether it’s simply decluttering or a business.
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Disclaimer: The information given in this podcast is of general nature and for educational purposes only. Contact a professional tax agent for advice tailored to your specific situation.
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