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Winlock(Newbie)Newbie
31 Oct 2024

I am interested in setting up an Etsy store to sell stitch markers that I have made as a hobby (as I have made more than what I know to do with as I love making them).


I am just wanting to confirm about the incoming that may come from selling items I have made as a hobby - do I have to declare the money earned to tax as it will technically be an income?


I already have a career and a steady income - and have no intention for this to be more than selling as a hobby, to allow me to make room and have the money to allow me to buy materials for future things I like to make.


Are there any good websites/resources to read through?

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553 views
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Most helpful reply

JayneATO(Community Support)Community Support
1 Nov 2024

Hey @Winlock,


There are a few factors to take in consideration, when determining if what you're doing is a business or a hobby.


But generally, you'd be considered to be running a business if what you're doing is done with the intention to make a profit and is of repetitive nature.


Check out the info we have on are you a business?


Also have a look at hobby or business.


Have a run through of the dot points on that page, it will give you a good indication if you will be deemed as running a business.




All replies

Most helpful reply

JayneATO(Community Support)Community Support
1 Nov 2024

Hey @Winlock,


There are a few factors to take in consideration, when determining if what you're doing is a business or a hobby.


But generally, you'd be considered to be running a business if what you're doing is done with the intention to make a profit and is of repetitive nature.


Check out the info we have on are you a business?


Also have a look at hobby or business.


Have a run through of the dot points on that page, it will give you a good indication if you will be deemed as running a business.




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