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Tax on goods sold on eBay?

  • 08-03-2016 5:54pm
    #1
    Lovelyguy
    Registered Users, Registered Users 2 Posts: 135 ✭✭


    Hi all

    I recently sold off my collection of retro computer games etc., and have made over 1000 euro in 60 days. All this is not profit, as I prob spent about 500 on it recently.

    I'm not a registered as business with paypal or ebay, and I pay PAYE, USC through my work etc.
    There doesn't seem to be anything on revenue.ie about personal stuff sold online.

    Does anybody have any experience of this? Should I be expect a call from the taxman?:(


Comments

  • #2
    davo2001
    Registered Users, Registered Users 2 Posts: 3,337 ✭✭✭davo2001


    Lovelyguy wrote: »
    Should I be expect a call from the taxman?:(

    No.


  • #3
    Lovelyguy
    Registered Users, Registered Users 2 Posts: 135 ✭✭Lovelyguy


    Cheers. I read somewhere recently that they were cracking down on online sellers. Dunno how they'd find out though unless ebay or paypal tipped them off..


  • #4
    nava
    Registered Users, Registered Users 2 Posts: 4,739 ✭✭✭nava


    Never heard of anyone been contacted by revenue to pay taxes on private sales like that.

    Paypal might ask to verify your identity and address by sending copy of passport, they do that when you have received x amount of money in your Paypal account. They did that a few years back not sure if they still do it.


  • #5
    Pawwed Rig
    Registered Users, Registered Users 2 Posts: 22,435 ✭✭✭✭Pawwed Rig


    You are not trading. If you were making a few hundred euro a week on an ongoing basis on goods bought and sold then you would have a liability. Selling a few belongings is not trading.
    is this going to be ongoing?


  • #6
    Lovelyguy
    Registered Users, Registered Users 2 Posts: 135 ✭✭Lovelyguy


    Cheers all. I feel a bit more relaxed now. I actually did have to send (a copy of) my passport & bank statement to paypal a while back, but I think that's a money laundering precaution.


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  • #7
    Lovelyguy
    Registered Users, Registered Users 2 Posts: 135 ✭✭Lovelyguy


    Pawwed Rig wrote: »
    You are not trading. If you were making a few hundred euro a week on an ongoing basis on goods bought and sold then you would have a liability. Selling a few belongings is not trading.
    is this going to be ongoing?

    No, I haven't much more to sell. I sold around the same last June...


  • #8
    4068ac1elhodqr
    Closed Accounts Posts: 9,586 ✭✭✭4068ac1elhodqr


    If you repeatedly buy things to resell, or make things (Etsy) with a view to selling them, or frequently sell 'similar type' items on eBay etc, with a view to making a profit, then you are trading and should notify the tax authorities. May be liable for contributions, VAT or even capital gains taxes for higher value items.

    If you're selling a few random things every now again from the attic, then have nothing to worry about as this isn't a venture/enterprise.


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