Local flea markets are particularly popular during the summer months. Many people clear out their garages or attics to earn a little extra cash. But do you have to pay tax on the money you make? And as a buyer, are the goods you purchase at a flea markets covered by a warranty? VRT News’ consumer team investigates.
Bargains to be had at you local flea market, but what about tax and guarantees on the goods you buy and sell
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Do I have to pay tax on the money I make on the goods I sell?
Don’t worry. The goods sold by private individuals at flea markets are not liable for tax. Any income accrued in this way is considered to be what the Tax Office calls “Normal management of private assets”.
The goods are sold are only liable for tax if they are sold for more than their original purchase price. As this is normally not the case with goods sold by private individuals that have cleared out their garage, attic or cellar, the money earned is not liable for tax.
However, those that systematically buy goods (for example at a flea market) in order to resell them at a profit may be liable to pay tax on what the Tax Office refers to as “occasional income”. The profit made could be liable to 33% tax.
Income from the regular sale of items or from sell high-value items sold is considered to be “professional income” and is taxed in the same way as salaries and wages at a rate of between 25% and 50% depending on the amount earned.
The Federal Government has recently brought in legislation to exempt “occasional income” of up to 2,000 euro/calendar year from tax. As well as income from goods sold at flea markets this also applies to income from goods sold on platforms such as 2dehands, Vinted and Facebook Marketplace.
Is there a guarantee on electrical goods purchased at a flea market?
Electrical goods bought from a professional vendor (physical store or online) are covered by a 2-year warranty. This is 1 year in the case of 2nd hand goods. However, this is not the case for electrical goods purchased from a private individual be it at a flea market or online.
Should I be able to pay electronically?
For some time now, vendors have been legally obliged to accept at least one electronic payment method in addition to cash. They might have facilities enabling customers to pay by credit card or they might use payment apps such as Google Pay or Apple Pay, a bank transfer, or a QR code that can be scanned using a payment app such as Wero or Payconiq. Vendors may never refuse cash, except for in exceptional (temporary) circumstances.
The obligations listed above only apply to professional vendors and not to private individuals. A private individual selling something at a flea market can decide for themself how they want to be paid. They could, for example, refuse to accept payment via Payconiq. However, it is often a good idea to offer customers the option of paying by app as they might not have any cash on them.