Hi, I was hoping someone could help me.
Im interested in setting up a (very) small business. I would primarily use a Facebook page to show and sell my products. I believe I would make very little money out of it. It's more like a hobby and sale price would cover costs and my time (nappy cake business).
Do I need an ABN? Do I need any licenses? Do I need to pay tax?
Any help would be greatly appreciated!
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13-08-2013 07:24 #1Senior Member
- Join Date
- Aug 2011
Shop on Facebook?
14-08-2013 13:51 #2Senior Member
- Join Date
- Jun 2012
DITTO! (A small business that might just make enough to cover costs and, if I'm lucky, a bit of 'pocket' money.)
I already have an ABN. I got it years and years ago. I don't remember it being terribly difficult to get one, and it's been useful.
Licenses - no idea sorry.
Tax - no idea, but I guess there is a limit of how much you could make before you have to pay tax and you might fall under that.
14-08-2013 13:58 #3
Have you checked out the ato website? I recall reading a while ago about hobbies and tax, where tax would come into it.
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14-08-2013 14:10 #4
I think you have to be earning $15000 a year off it before you need an ABN etc etc? It's definitely a limit I know my wahm business would never reach lol
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