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Jetsbudgies

Selling Budgies

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Hi, ive been breeding and selling my culls off for 5 years now... and like to know do I need to pay any tax or let the taxation office know that ive been selling my budgies? I haven't been able to make any profit from my hobby cause I use my money pay for budgie food and accessories sometimes buy new and rare budgies I don't already have.. but Im still selling do I need to declare cause I dont want to get stung by the taxation office 10 years down the road.

 

Best regards

Edited by Jetsbudgies

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Hi Jetsbudgies,

good to see you are concerned about taxes but in this case it's a NO. No you do not have to report to ATO. The first step of declaring yourself a business is to work out if you are actually running a business. You should read this info:

 

https://www.ato.gov.au/workarea/DownloadAsset.aspx?id=7357

 

Do you have the purpose of profit ?

 

Does it allow you to make a sustainable amount of profit ?

 

You do make some profit on the sale of a bird however in business context that profit is eaten up by the expenses of raising the birds.

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Thank you so much for the reply budgieowner. Your answer really helped.

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