Hi,

I'm considering trying to earn some money on the side by flipping/reselling items on sites such as Ebay and Marketplace, but I don't know a lot about the business/tax implications of starting out. From what I've read, I would only need to register for an ABN and for GST if my turnover was $75k during any rolling 12 month period, which isn't a figure I would expect to hit anytime soon.

Nonetheless, obviously any profit I do make would need to be taxed. Since I think I would be considered a sole trader, it seems like that profit would be considered as part of my individual tax return. But I'm not certain about what records I may need to keep, what business related permits I may need or other things I haven't considered if I were to do this. I think I would need to keep records of the following to declare at tax time:

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- Receipts of items that I've purchased to resell (showing cost and date of purchase)

- Invoices of items that I have sold (showing the sell price, date of sale, seller fees)

- Receipts of any postage costs

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I also think I should be keeping records of the following for tax deductions:

- Logbook of kms driven to purchase items/post items, etc

- Receipts for miscellaneous materials bought for the 'business' like a scale, packaging tape, etc

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I'd appreciate any advice on whether the things I've said are correct or not as well as if there's anything obvious that I'm missing or not considering. I know it would probably be smarter to ask an accountant than reddit but I figured there's no harm in asking here first. Thanks

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E.g. online automation, easier postage comparisons etc

Most of my flip items fit into a Small Satchel & I offer express postage on orders. Australia post sell a 10 Pack of the Small Express Post Satchels for $140.40 so was hoping to find another place that is a little cheaper so I have some savings on postage.

Discounted Small Express Prepaid Post Satchels: https://www.ebay.com.au/itm/285530729598

Currently this is the best place I can find per 10 Pack is $130.94 delivered when you purchase 4 or more & I always buy bulk). Have purchased from them before, satchels arrived quick & work great even though they're the old layout. Looking to bulk stock - anyone find cheaper?!

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I don't know where else to post this, but I know someone out there is looking, and here it is!

On Episode 8 of The Aussie Property Flippers, the house that Darren and Sean were working on that didn't sell, is located at 6 Maxwell Brown Drive, Southport QLD.

It sold for $1.4m a couple years later, and then $1.8m more recently.

You're welcome! 😁

Is there a different sub that I'm missing?

I've been flipping for a while, but shipping is killing me. Just looking for some tips on how to minimise my costs here.

r/YoutubeResellerDrama is the sub, and it's the place for all Youtube reseller discussions! Stop by and say hi!

Hi all hope this sub isn't completely dead. I have some wholesale clothing lots I'm looking to clear out as I have some large stock lots coming soon and need more room I have the following Ralph Lauren baby shoes bulk Gstar jeans mixed lots bulk need minor repair or washing H&M Alexander Wang tops jackets and leather pants designer wear high $RRP

They are great lots I'm just we'll over stocked and underspaced and understaffed

I'm located on the nsw south coast

Hi y'all I'm starting to lay down a bit of heat and shipping about 100 units plus per week Previously I was using transdirect who's prices were great but customer service was a steaming pile Has anyone got some recommendations and some good bulk shipping discounts

Anyone here have any experience flipping cars? I have a backround in spraypainting and wanted to buy some cheap cars, give them a good buff and touch up with minor mechanical repairs and flip them. Is it worth it with all the rego transfer fees and stuff

Cheers

Hey Guys! Just wondering if when flipping phones bought from Facebook Marketplace if you relist them on marketplace when you buy them or would you rather use a different platform like Ebay ? Cheers!

I'm looking at buying ewaste. Does anyone have some for sale?

Hey everyone,

I was curious as to what apps or resources are available to those book flipping through FBA in Au. There a quite a few apps in US, I was wondering if there any equivalent apps.

scoutiq.co - To scan books and tell you if they are worth keeping

www.accelerlist.com - To list all scanned items quickly

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What apps are people using here in Aus for FBA? And any other resources? Thanks!

Any Perth based people here? I’ve been flipping items this year and had some success. Turned $800 into $4k in a month. While snap lockdowns haven’t made things easy, I usually find phones to be a good flip given time, patience and right buying price.

What are some regular cash in hand items that you flip?

Hi guys. Just stumbled across this sub after I saw the American one (the US one is a great sub but doesn't really help us all the way over here unfortunately). Great to see what we have our own version to help each other out. Just wondering if there are other Aussie subs similar to this? Cheers :-)

With the minimum parcel charge at $8.95 does anyone know some tips to get around these mongrel price scabs? Is there any way to get tracking on an envelope send? is it better to avoid the reail outlets?

Hey there,

I hang out a bit on r/flipping but a local community would be dope. So, anyone around to talk the nuances of AusPost w me?

Is there a need for any certifications to legally flip houses in Australia - specifically Victoria, such as a builders license. Don’t you need one if you are doing works over $16k?

I thrifted a pair of Wolverine boots. They're amazing, but the big brain ladies at the op shop wrote the price [on the rubber soles in heavy orange perminant ink.] (http://imgur.com/a/b4BwoBH). It's set in deep, and won't come out.

I'm not kidding when I say that I've tried basically everything. Metho, WD40, magic eraser, nail polish remover, white board cleaner, hand sanitiser, stain remover.. I've been rubbing for the past hour. Nothing, just faded lightly. I feel like I almost have to carve the rubber away with a knife or something.

Hi everyone

I am in this online phase. Do you think flipping is still viable in Australia ( selling in Australian market only)

I am thinking of doing clothing as I am passionate about clothing. Any guides or blogs you would recommend? Aussie based blogs would be better

happy Sunday everyone

Hi there Aussie TV producer looking for Australians who flip as a side hustle to make extra money. Particularly interested in millennial flippers who have a particular area of expertise/focus eg old games, furniture, clothing. If you'd be open to being interviewed or want to know more email me kgillespie@seven.com.au

Slowly getting into flipping and I'm just stumped at how people can give free shipping on items that are dirt cheap? Like it costs $8 to just post a dvd but some people are selling them at $10 or less with free shipping.

i want to sell them for $20 a case. thinking of calling mom and pop joints to sell them. id prefer to sell the lot at once. Any ides how i can do that or the types of places that might go for this? any help is appreciated.

I'm a little irritated by eBay's international shipping options for a few reasons. Firstly their express option is wrong and actually charges LESS than the standard registered post option.

This is terrible as the service actually quotes up to half the real cost.

Standard registered post shows as more on my end for some reason (between express cost and registered cost)

On top of that, if I input the courier service it quotes for express, however if I change all my listings and eBay fixes the issue my customers will be quoted double the postage I want to offer.

I can offer flat rate postage, but there are quite a few problems. If I quote for Asia, this will include cheap ship to countries like China, but also expensive places like parts of the Middle East and even Russia.

Yes, I quoted for Asia and someone in Moscow was able to checkout with the Asian flat rate option.

I hope eBay fixes these issues soon.

Edited: Mistake and extra note.

eBay has a policy where they only allow Playboy, Penthouse and Mayfair. I'm just wondering if people here have any experience selling adult magazines that aren't allowed on eBay and where they go to do that or how they get around eBay? I'm thinking first I'll just try playing it cool, not mentioning that they're adult magazines or using keywords like 'adult,' etc, just presenting them as regular magazines and hoping someone is searching the magazine title.

I'm just curious, also, whether adult magazines, when cheap, are an automatic buy for people on here or too much trouble or what? Do people see them for sale that much? Do you skip things that aren't Playboy, etc?

I bought about three boxes of magazines from a garage sale a while ago for just $20. I sold off the Playboy and Penthouse and made a profit pretty easy but at the same time it's been kind of annoying, with a lot of issues that I thought would sell just not selling, and others selling after many months. I've made money, so it's not a bad situation, but it's not the big, easy, magnificent success I was thinking it would be.

Apologies for double posting but most of the apps I can find are linked to the U.S ebay and u.s prices. The apps i have found to be good so far is the qrbot app with ebay app.