gingerbeer Posted February 20, 2015 Report Share Posted February 20, 2015 When does your hobby become a business? Link to comment Share on other sites More sharing options...
matt_a Posted February 20, 2015 Report Share Posted February 20, 2015 1st of July 2016 Link to comment Share on other sites More sharing options...
Lictoga Posted February 20, 2015 Report Share Posted February 20, 2015 When the tax man comes a knocking Link to comment Share on other sites More sharing options...
yellows Posted February 20, 2015 Report Share Posted February 20, 2015 (edited) When it's all about the money and not the fish anymore:drum: Edited February 20, 2015 by yellows Link to comment Share on other sites More sharing options...
Al32 Posted February 20, 2015 Report Share Posted February 20, 2015 When the money you make from your "Hobby" makes up more than 40% of your income. When you walk into your fish room and there are prices on your tanks. When you start to sell dry goods as well as fish. When you are buying from others to resell for a profit. (Fish and dry goods). Link to comment Share on other sites More sharing options...
danfishy84 Posted February 20, 2015 Report Share Posted February 20, 2015 When you have so much tank maintenance going on you can't make it to work. Link to comment Share on other sites More sharing options...
Betta-Cray_z Posted February 20, 2015 Report Share Posted February 20, 2015 when you cant sleep at night and your fear of the ATO brings a cold sweat to your brow... and posts like this, scare you senseless. Link to comment Share on other sites More sharing options...
Daydream Posted February 20, 2015 Report Share Posted February 20, 2015 When you start calling in sick to work because some one is coming over to by fish and you make more staying home than leaving it. Link to comment Share on other sites More sharing options...
Heintz.G Posted February 20, 2015 Report Share Posted February 20, 2015 When you have more customers than your Lfs. Link to comment Share on other sites More sharing options...
JayPee Posted February 20, 2015 Report Share Posted February 20, 2015 I'm still yet to turn a profit. It will always be a hobby for me. Link to comment Share on other sites More sharing options...
danfishy84 Posted February 20, 2015 Report Share Posted February 20, 2015 Your a business if: You work out your hourly rate and don't have to report yourself to a fair work ombudsman. Link to comment Share on other sites More sharing options...
Squirtle Posted February 20, 2015 Report Share Posted February 20, 2015 Well if I was running a business I would be the worst business man of Australia Link to comment Share on other sites More sharing options...
Donny@ageofaquariums Posted February 20, 2015 Report Share Posted February 20, 2015 When you have to start letting people into your fishroom that you dont want to let into your fishroom. Link to comment Share on other sites More sharing options...
Al32 Posted February 20, 2015 Report Share Posted February 20, 2015 when you cant sleep at night and your fear of the ATO brings a cold sweat to your brow...and posts like this, scare you senseless. Some of these people have more to worry about than just the ATO. There is also Centrelink and The Housing Commission. Link to comment Share on other sites More sharing options...
Craigo Posted February 20, 2015 Report Share Posted February 20, 2015 S ome of these people have more to worry about than just the ATO.There is also Centrelink and The Housing Commission Haha its funny cause its true... Link to comment Share on other sites More sharing options...
shon982 Posted February 20, 2015 Report Share Posted February 20, 2015 When it becomes more about every single dollar than producing some good quality fish Link to comment Share on other sites More sharing options...
Daydream Posted February 20, 2015 Report Share Posted February 20, 2015 When you carry more sp than most shops. You buy blackworms by the ltr flake by 10ltr bucket and waffers3 to 4 kg at a time . Water changes take 18hrs and maintenance another 10. When you start buying and selling to wholesalers on a weekly bases to make room for the next batch. Or you need to bump your multiple fs adds every 24hrs because you have so many tanks and fish you need to turn them over. Not that I would know,but that's what Ive heard. Link to comment Share on other sites More sharing options...
brodie7744 Posted February 20, 2015 Report Share Posted February 20, 2015 When you carry more sp than most shops.You buy blackworms by the ltr flake by 10ltr bucket and waffers3 to 4 kg at a time . Water changes take 18hrs and maintenance another 10. When you start buying and selling to wholesalers on a weekly bases to make room for the next batch. Or you need to bump your multiple fs adds every 24hrs because you have so many tanks and fish you need to turn them over. Not that I would know,but that's what Ive heard. 18 hour water changes ? Da fuq ? Link to comment Share on other sites More sharing options...
Lictoga Posted February 20, 2015 Report Share Posted February 20, 2015 Wow I thought 4hr water changes were bad Link to comment Share on other sites More sharing options...
Al32 Posted February 20, 2015 Report Share Posted February 20, 2015 It's great when people can take something they love and turn it into a business. But if you can......Do it the right way. Get yourself an ABN, Declare your income, And if you have too, Pay tax. Tax evasion can carry some pretty hefty consequences. Anyone running 50+ Tanks that still says "It's just a hobby" is kidding themselves. You are either running a business or you are a hoarder of fish. And a hoarder wouldn't sell their fish. Link to comment Share on other sites More sharing options...
Daydream Posted February 20, 2015 Report Share Posted February 20, 2015 Yep used to hold about 140 sp of fish in over 100 tanks to much work.Wasnt trying to get rich just found it hard to part with fish.It gets addictive when you start thinking haven't breed that yet Ill grab some and give it a go.When it came to corys apistos whips even tetras I couldn't help myself.Working in a shop or wholesale/import room was a big mistake.Loved the work and helping others but money wasn't great and fish list ever present was hard to go forward rather than backwards.Now only have about 20 tanks with the few fish I cant replace if lost and have a much happier wife and bank account.Was never a business was always about the fish and quality and trying to breed as many dif sp as possible.In the end I think I breed and raised fry of over 160 sp ranging from small to large and several families and breeding styles.Ask many of the people who know me and they will tell you none who come into this hobby to get rich are still here 20 years on and only those who are hobbiest are. Link to comment Share on other sites More sharing options...
gingerbeer Posted February 23, 2015 Author Report Share Posted February 23, 2015 It's great when people can take something they love and turn it into a business.But if you can......Do it the right way. Get yourself an ABN, Declare your income, And if you have too, Pay tax. Tax evasion can carry some pretty hefty consequences. Anyone running 50+ Tanks that still says "It's just a hobby" is kidding themselves. You are either running a business or you are a hoarder of fish. And a hoarder wouldn't sell their fish. One thing I do not get in the fish and plant trade. Why do stores accept that there own wholesalers are selling to the on sellers. In the building trade as a wholesaler if we sold straight to the builder, we would be crucified in the market place. Link to comment Share on other sites More sharing options...
Grover65k Posted February 23, 2015 Report Share Posted February 23, 2015 My hobby will become a business when the GPGs start breeding. Sent from floating around in the "GPG Billabong" Link to comment Share on other sites More sharing options...
fishfish Posted February 23, 2015 Report Share Posted February 23, 2015 One thing I do not get in the fish and plant trade. Why do stores accept that there own wholesalers are selling to the on sellers. In the building trade as a wholesaler if we sold straight to the builder, we would be crucified in the market place. Stores need to buy from someone. And stores then buy from average joe breeders so whole sellers need to keep moving stock Link to comment Share on other sites More sharing options...
hareysfish Posted February 23, 2015 Report Share Posted February 23, 2015 It's great when people can take something they love and turn it into a business.But if you can......Do it the right way. Get yourself an ABN, Declare your income, And if you have too, Pay tax. Tax evasion can carry some pretty hefty consequences. Anyone running 50+ Tanks that still says "It's just a hobby" is kidding themselves. You are either running a business or you are a hoarder of fish. And a hoarder wouldn't sell their fish. I run about 70 tanks (all different sizes), and if I was a business, I know i'd be bankrupted, there definently isn't enough money in it to run it as a business under at least 100 tanks, for a retired person. "Ask many of the people who know me and they will tell you none who come into this hobby to get rich are still here 20 years on and only those who are hobbiest are" I totally agree with you there daydream. Link to comment Share on other sites More sharing options...
