Institute of Certified Bookkeepers
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Hobby

  • Member in Practice
  • Practice Certificate
  • 2 posts
  • # 117658

How are purchases from "hobby" suppliers handled?  I have a client who has a holistic health business, purchasing many items from "hobby" suppliers (no abn etc or invoices really, just non descript receipts).  Can my client claim these purchases as a business expense or just kick it to her accountant?

  • Fellow in Practice
  • Practice Certificate
  • 266 posts
  • # 117659

Hi

 

The supplier would need to complete a State of Supplier form and give to your client effectively advising that they are not running an enterprise.  The criteria they need to meet to complete this form is on the actual form.  Information and link to the form can be found at https://www.ato.gov.au/forms/statement-by-a-supplier-not-quoting-an-abn/

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