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Which law is that?

Tax Law - check ATO definition 'Hobby' - you can actually make money - but it's very 'subjective' as to how much before it becomes a business and then you require an ABN and file a tax return. At that point it is no longer a hobby!
 
These are questions we've already asked our accountant and in QLD a hobby is up until $20k annually before you need an ABN or anything of the like! So yes you CAN make a profit from a hobby which is the sweetner if the hobby is something you love doing!
 
Tax Law - check ATO definition 'Hobby' - you can actually make money - but it's very 'subjective' as to how much before it becomes a business and then you require an ABN and file a tax return. At that point it is no longer a hobby!

yes, and that's interesting because by the QPWS policy you're not allowed to set up business with reptiles (other than pet shop), so where does it leave you ... I should say us.

The policy is very hazy at least to say and after 40 minute one on one conversation with the acting Director of QPWS about this very issue, I am not any wiser. :eek:
 
Is it a business or a hobby?

this may also help - but yeah, there's that subjective cut-off like you say... Unfortunately I don't think that the $20k is a be-all and end-all because you can get stung if you earn up to $20k in a hobby too and don't declare it... How they find out is anyone's guess.... I assume someone may 'dob' you in if they get a poor deal or shoddy products (or animals).

There's always a risk with hobbies in that sense... But $20k is under $400 a week income overall! But I guess that's still $14k of tax free money that the govt are missing out on :(
 
yes, and that's interesting because by the QPWS policy you're not allowed to set up business with reptiles (other than pet shop), so where does it leave you ... I should say us.

The policy is very hazy at least to say and after 40 minute one on one conversation with the acting Director of QPWS about this very issue, I am not any wiser. :eek:

Ahhhhh... the ol' you're not allowed an Australian reptile business unless you're a pet shop trick.... Then in that case it's a HOBBY!

We shouldn't be profiting at all and hence the drop in price is reflecting this 'request'.

After reading that link above (Is it a business or a hobby?) I was none the wiser either.... Other than the intention....

But... if you were intentionally selling reptiles for profit you'd need to be a pet shop..... hmmmmm
 
The "pet shop" thing doesn't really come into the equation because there, you're only allowed to sell common reptiles. The man said; we don't care whether you sell a reptile for 5 bucks or $50,000.- as long as you sell to the "end user". No wholesalling! Apparently, we can sell reptiles that are no longer wanted, species we have no longer interest in (in any numbers), particular sex and excess progeny. At the same breath, I was told that we are not to subsidize regular income from profits make of reptile sales. However, we can sell reptiles to; offset keeping costs, equipment, transportation, veterinary bills, etc., etc., AND to recover initial and subsequent investment. The last bit is really interesting. I asked, if I invest 100K (which wouldn't be too hard to do), can I recover that figure in a year or two? The answer was as clear as the Murray-Darling in flood.
So, as I said, I am not any wiser after that conversation but I did make some conclusions (which I intend to keep to myself).
 
Thats exactly it Michael, the tax law says one thng and the QPWS says another. Both different legislations and both very grey areas. QPWS opinions also change depending on which branch and even which person you talk to.

Bottom line, keep doing what you are doing, pay your fees, fill in your movement advices and dont ask too many more questions......
 
I imagine they would be very reluctant to call you a business, because it would pave the way for every hobbyist who spends more than they bring in to say "Oh, I'm running a reptile breeding business", and of course, they could use their hobby costs, er, "business losses" to offset their income, thus pay less tax.
 
Thats exactly it Michael, the tax law says one thng and the QPWS says another. Both different legislations and both very grey areas. QPWS opinions also change depending on which branch and even which person you talk to

the laws aren't grey at all, and it's irrelevent what a clerk tells you, seek professional advice......

but i do like this advice

Bottom line, keep doing what you are doing, pay your fees, fill in your movement advices and dont ask too many more questions......
 
the laws aren't grey at all, and it's irrelevent what a clerk tells you, seek professional advice......

Where would you go to seek professional advise? I am really curious, since I thought the acting Director was a professional as they come.
 
Have you read the tax laws in regards to busines vs hobby? they are as grey as my old mans hair lol
 
I'd buy a nice albino male for $1600 in brissy if I could find one...

EDIT: albino darwin , er or spotted :D
 
the bad thing about ridiculously cheap snakes is that they will be cheaper to replace than to take to the vets,.... :(

not a good thing at all.
 
the bad thing about ridiculously cheap snakes is that they will be cheaper to replace than to take to the vets,.... :(

not a good thing at all.
yep . buy a $50 snake - it gets sick and have a choice between a $100+ vet bill or another $50 snake .
 
yep . buy a $50 snake - it gets sick and have a choice between a $100+ vet bill or another $50 snake .

I'd be surprised if people would keep snakes as inanimate objects.... however, I wouldn't put it past some people for sure - sad but true.

I know it's the same for my GPS - it's cheaper to buy a new GPS with the latest maps than to get new maps... But how could anyone put an animal into that bracket (not saying it doesn't happen, just very upset it could).
 
god I hope the prices don't drop lower then $100 for anything IMO I would be a bit annoyed if the prices became low like $10 -20 for a snake I wouldn't be all that interested anymore I love the hobby because there is veriety and there is investments to be made. not everyone can afford sertain species but thats how its always been and you just have to save that monie like the rest of us. IMO if you keep saying its not about the monie then I'm afraid to rain on your perade but alot of people in this hobby breed for investments as well as the love of it and when the prices start going down I fear that allot of people will stop breeding due to costs of setting up incubators, electricity bills, food for snakes arn't cheap, housing isn't cheap eather hints the costs of surtain species and all others. so IMO when the prices plummit below $100 each the hobby will die. or you will see alot of crosses getting around and everyone that has spend 5 - 20 years selective breeding for surtain morphs etc it would of been a complete waist of time. I love snakes that are exspensive and different to the norm and different to what everyone else has.
 
Is there anyway I can onto a waiting list for your Triceratops Jetstream Hypo Speckled Freckled Supervillain Megablotch Carpets by any chance Sdaji?
 
I'd be surprised if people would keep snakes as inanimate objects.... however, I wouldn't put it past some people for sure - sad but true.

I know it's the same for my GPS - it's cheaper to buy a new GPS with the latest maps than to get new maps... But how could anyone put an animal into that bracket (not saying it doesn't happen, just very upset it could).

It's already the case with fish and some birds and mammals. No doubt reptiles will follow.
 
It's already the case with fish and some birds and mammals. No doubt reptiles will follow.

Absolutely. A pair of breeding carpets and a goanna, movie camera and we will see it all on Utube. Great entertainment. I don't think the RSPCA will take unwanted reptiles.
 
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