They get their slice from me on the taxes on the ciggies I smoke - say no more.

Tell you what , quit the cigs , buy some more birds with the money you save , then get your relaxation and time out in the aviary

All in good time!

they get their slice from me on the taxes on the ciggies i smoke - say no more.

When my sis in law was in hospital earlier in the week for tests she asked me to pick up a pack of cigs for her on my way in. Not being a smoker i was shocked at the price of them. More budgie money for me if I am not a smoker I say

they get their slice from me on the taxes on the ciggies i smoke - say no more.

When my sis in law was in hospital earlier in the week for tests she asked me to pick up a pack of cigs for her on my way in. Not being a smoker i was shocked at the price of them. More budgie money for me if I am not a smoker I say

Yes the hypocracy that went on in the 20th century with regards to the Tobacco industry is simply sad. Too bad we all know now that it is our fault for believing in the first place. So yes, we now pay for the priveledge to kill ourselves and clog up hospitals in the process. I like to hope that this slice of the pie goes towards improving Public Health, there would be a nice irony in that. Somewhat like the revenue from the pokies going towards funding Youth Sports programmes.

Got an ABN for your aviary , then your a business . Other then that your a hobby , whether you make money or not is irrelevant.

 

If you are making a net loss on your birds - very good luck to you convincing the Tax dept that it is a business as opposed to a hobby - UNTIL you start making dollars that is THEN they are happy to call it a business.

 

I went down this track with our dogs - depends on how much income you derive directly from your birds. There are strict limits in tax law even for production animals let alone pets.

 

The VAST majority of us would be hobbyists and not business people.

 

Geez sorry Matt - Nubbly AGAIN has not read the posts properly - What Matt said.

Edited February 11, 201015 yr by nubbly5

Well if the ATo wants to look into taxing us they will be in for a Big surprise.. What would they say when you claim $2500 for the lost of a Gazzard bird? ..... or would they understand?

Well if the ATo wants to look into taxing us they will be in for a Big surprise.. What would they say when you claim $2500 for the lost of a Gazzard bird? ..... or would they understand?

 

That's why they have clear definitions of hobby/business as it's much more common for hobbies to run at a loss or for people to be able to claim that they run at a loss. But I guess if the ATO saw lots of cash regularly coming into your accounts from an "unknown" source they might decide to audit and determine if your hobby is indeed your business. The best guideline really is if your hobby supports you and you do not have to find any other source of income (or not much anyway) - if that's the case the according to the ATO it's a business.

Here's an ATO Website explanation. No short answer but almost all of us don't need to worry about the ATO knocking on the door to explain the source of funds obtained from bird sales.