You're right Astrid, but atm we're renting so capital gains tax isn't an issue for us. When we buy it will be a different story. We're claiming 10% of electricity, etc, as that's what our accountant suggested. As for FBT, etc, well, I have to keep a log book for the car and that kind of thing, but it's amazing how mnay business things you do on trips, such as the banking, that kind of thing.
Yeah.. last thing you wanna claim is % of mortgage expenses.. you get hit with capital gains when you sell.. even tho it's you're private home. Expenses like % of electricity etc are ok, but I wouldn't touch property expenses.
We have a partnership, not a company. We aren't earning enough to warrant it being a company.. and there's not much difference in liability these days. People say it's safer to have a company because it's a separate entity, and you can't lose your house etc etc should things go belly up or you get sued. But directors have been more liable in the past few years, so you're still up the creek even with a company that goes belly up. hehe. We will probably only form a company when it benefits us tax-wise.
If you are a crafty sort of person Have you consider doing something for craft markets. For example, Fletch there is a huge opportuinity for you to dset yourself up with a laptop at a market selling your photo layouts. I personally am a sewer and trained in costume design (as well as being a trained teacher in another life) and now that I can no longer work fulltime due to health issues my mum and I do a couple of markets a month. We sew dance wear and childrens costumes which we spend a little bit of time on now our stock is up and running, then all you have to do is turn up pay a site fee and anything else you make is yours. My sister does digi scrapping and also makes these cool dvds of photos for birthdays, engagements etc all set to music...she is going to set up her laptop at our stall and try to sell those.
Another idea which has already been mentioned is doing data entry for a small business. My DH manages a small chain of family owned clothing stores and when their warehouse manager retired last year we put it to them that I could do the stock control for them from home. I have a direct link to their server and they simply fax me invoices and orders and I put them on to the system from home..this saves them paying a managers salary as I get paid on a partime basis and they then employed a junior to mark and hang the stock....saving them thousands a year. I still like my craft markets though, they are great fun, you get to make heaps of friends and meet new people every month and the money can be really good for very little effort.
It woould be so easy for you to set up fletch...all you would need to start out is a couple of card tables a couple of nice display folders and some price list which you could print up and enough battery power on your laptop. My sis has just bought an extra battery on ebay for hers (it's an older model laptop so doesnt last as long). All I had when I first started was one card table and 2 cheap dress racks from target and a foldup chair from bunnings...that was it. Now I have a tent etc but truly you can set one up so cheaply......I say Go For It!!
google marketsonline and they have a list of some true craft markets rather than trash and treasure markets......also ozmarkets has some listed and marketsandfairs.....give those 3 sites a go for some ideas...I don't know Sydney so don't know which ones would be closest to you. HTH
Mel
A couple of them do...not sure which ones.....I think once you have a market stall you can advertise with them. it certainly looks like...marketsonline do as well.
Fletch! If you wanna go halves in a stall we might be interested with our soaps! Just a thought I don't like our markets much.. I was going to check out markets up at Glenbrook or something.. bit more crafty iykwim.
We only want to go to markets a few times.. want to plug the website more than anything, so it wouldn't be a regular thing. We wanna sell online.. don't want to have to GO to work! LOL.
Our whole family is making candles. It is a craft hobby which even our 3yo helps with. We sell them at markets and do classes, but you could do so many other things.
If you can you boil water, and you can stick stickers then you can probably do this.
It is has a network marketing aspect (an Aussie owned network marketing company), which also pays great too...
The candles are made of soy wax which is quite environmentally friendly.
Let me know if you are interested let me know - we just love candles.
Ohhh wow..that sounds like a fantastic hobby...VB....could you pretty pretty please post email me some info?? jgittos@hotmail.com or if i can google a link or something? Very interested.
I can vouch for the candles.....I buy them all the time from a local supplier and they custom made some for my wedding in my own glass holders so they looked all swish and they smell divine especially the lily of the valley and the yzuzu fruit.
Thanks Vb. I was wondering do you, or anyone else make soap to sell? A friend and I want to start up a market stall together, beaded jewellery, soaps and candles, what would be the best way to start selling at a stall?
By the way, how do I get involved in the network marketing scheme? plz either post or email me at lauren_1818@msn.com.
To set up at a market is relatively easy (although this is the busiest time of the year, and the hardest time to get a stall). There are many markets around, and this includes school markets - this is the market season...
You book a stall, arrange your products, take some money (change), and off you go.
Remember importantly that people will definitely buy more often from someone who knows their product, is enthusiastic, looks neat and tidy, and has a "good" looking stall. Although you don't have to nail all of these to sell.
Lauren, I will be in touch!!!
Good luck to all those doing stalls - this is the best time of year - makes up for all those months you may have gone for poor successes.
Yup! We make soap! But we're selling online Too lazy to go to markets. That reminds me.. I paid for Marketplace ages ago.. must check if it's ok to put it in my siggie.
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I don't like our markets much.. I was going to check out markets up at Glenbrook or something.. bit more crafty iykwim.
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