Hi IMs
I hope someone can help me. Im trying to turn my hobby into a home bussiness. Im currently on centerlink (parenting payments) and after trying to find work unsuccessfully, i have decided to take matters into my own hands. Its not a registered business. I have a photo album on my personal page with 8 items on there. Thats it. Ive sold 9 items. I made $80 but only $30 of that is profit. At what point do i need to delcare this with centerlink? I will be registering my business if it gains enough sales but for now i will keep it as a facebook page. Obviously im trying to do the right thing and i dont want to end up owing money. Thanks
2 Replies
Report any profit. It's a pain in the kneck but Centrelink now has a team that trawls Facebook looking for people running business and not reporting.
Definitely have a conversation with Centrelink sooner rather than later. You want to provi
You will need to write a simple profit and loss statement at some point.
Thankyou. I will get onto that tomorrow then.