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ax575(Newbie)Newbie
21 Jan 2022

Hello,


Over the past few months, I have sold a number of coins from my collection on eBay and am wondering how I'd report this on my tax return.


I'm pretty sure that I'm not carrying on a business:

  • I have no ABN or business name
  • I do not make regular sales: the last time I sold stuff on eBay was over a year ago
  • I do not pay for or advertise my online-selling presence: I'm using my personal eBay account instead of a store


I understand that collectables are subject to CGT, but each coin I sold was acquired for less than $500. The ATO website states that these are exempt from CGT, so do I need to declare anything in my tax return?


Thanks.

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3,385 views
1 replies

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Most helpful replyATO Certified Response

EthanATO(Community Support)Community Support
ATO Certified Response22 Jan 2022

Hi @ax575,


If you've determined you wouldn't be considered to run a business, your activity may be classed as a hobby. I recommend having a read through our Are you in business? page. If you determine you're not classified as a business, you won't have anything to report.


As for CGT, you're correct. If each coin was acquired for less than $500, they would be exempt from CGT due to being collectables. If you're not running a business (by the sounds of it you probably won't be), and each coin is exempt, you'll have nothing to report.

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Most helpful replyATO Certified Response

EthanATO(Community Support)Community Support
ATO Certified Response22 Jan 2022

Hi @ax575,


If you've determined you wouldn't be considered to run a business, your activity may be classed as a hobby. I recommend having a read through our Are you in business? page. If you determine you're not classified as a business, you won't have anything to report.


As for CGT, you're correct. If each coin was acquired for less than $500, they would be exempt from CGT due to being collectables. If you're not running a business (by the sounds of it you probably won't be), and each coin is exempt, you'll have nothing to report.

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