Tax time doesn't have to be stressful if your records are in order. Here's how to lodge as an Australian reseller.
Declare your gross income from all selling platforms. This is the total amount buyers paid, before platform fees are deducted. If you sold $40,000 worth of items on eBay and $10,000 on Depop, your gross income is $50,000. Fees are claimed separately as deductions.
All legitimate business expenses: platform fees, payment processing fees, postage and packaging, COGS (cost of goods sold), storage costs, proportion of phone and internet, accounting software, and any other expense directly related to your reselling business. See our complete deductions guide for the full list.
If your business is simple (single platform, straightforward expenses), you can use the ATO's free myTax system. If you sell across multiple platforms, have complex COGS calculations, or are GST registered, a tax agent is usually worth the cost ($200-500 for a sole trader return). Tax agents also extend your lodgement deadline.
Your accountant needs: platform sales reports from each platform, expense records with receipts, bank statements for business accounts, stock on hand valuation at June 30, and your previous year's tax return. If your bookkeeping is up to date, gathering these is straightforward.
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