On 21 April 2015, the Australian Taxation Office (ATO) gazetted a notice advising that it will be requesting and collecting online selling data relating to registrants that sold goods and services of a total value of $10,000 or more for the period from 1 July 2013 to 30 June 2014.
This acquired data, which will be sourced from eBay, will be electronically matched with certain sections of ATO data holdings to identify possible non-compliance with registration, reporting, lodgment and payment obligations under taxation law.
The following are some of the key data elements, which will be will be requested from eBay, in relation to all online sellers with sales of $10,000 or greater in the 2013-14 financial year:
- Account name and account identification
- First name and last name
- Business name and address
- Telephone numbers
- Date of birth
- Email address
- Registration date
- Number and value of annual sales transactions
- Number and value of monthly sales transactions
- Internet Protocol (IP) address
This program will be used to identify individuals and businesses that may be under reporting or not reporting income and not complying with their lodgment obligations.
In cases where taxpayers fail to comply with their obligations, after being reminded of them, the ATO will take action as appropriate and this may include consideration for prosecution.
If you require any assistance with your reporting requirements for your online selling business, please contact our office.
