Posted: 10 November, 2016
ATO Crackdown On eBay Sellers
Taxman to collect names and addresses
Anyone who sells stuff on eBay has been put on notice..
The ATO is planning a crackdown on tax cheats who're cashing in on $12,000 a year or more via their online trading.
The investigation's been sparked by reports of Aussies making big bucks selling online...
While it won't affect anyone selling their old bed or pram online, the data scraped by the ATO will hone in on anyone significantly supplementing their income buying and selling things like cars, boats, and services like cleaning and building work.
The ATO will be collecting personal details of sellers, including names, addresses and other contact details. They'll also track the value and quantity of the sales.
“These records will be electronically matched with ATO data holdings to identify noncompliance with registration, lodgement, reporting and payment obligations under taxation laws,”
It said the information would also help it build intelligence about businesses including broader risks and trends.