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TOPIC: GST etc
#89
savatage (Visitor)
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GST etc 9 Years, 11 Months ago Karma: 0  
Hi Guys,

I am looking at dropshipping on a casual basis. How does it work with GST etc.

Do you have to complete BAS statements, declare profits etc?
 
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#91
mike (Moderator)
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Re:GST etc 9 Years, 11 Months ago Karma: 9  
Hi there
Although we are not able to give you legal or financial advice I can tell you this much.

You should be registered for GST although you do not have to complete business return statements unless your income is higher than AU$75,0000.00

In most cases people do not declare their GST to begin with but they keep an eye on their income and when it gets close to the above figure they then register to declare the GST.

Keep in mind that if you are not declaring your GST collected you cannot claim the GST that you pay when you purchase something.

Hope this helps.
 
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#96
diazlisa (Visitor)
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Re:GST etc 9 Years, 10 Months ago Karma: 0  
So if I don't want to claim, then I don't have to register? Would that be correct?

Thanks
 
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#118
mike (Moderator)
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Re:GST etc 9 Years, 8 Months ago Karma: 9  
If you want to run any business in Australia you need to have an ABN (Australian Business Number) or a BN (Business Number) and you should be registered for GST even if you are not claiming or collecting GST. You should also keep a book of accounts so that if you are ever scrutinised by the ATO you will have support for your income and expenses.

You do not need to open a company or register a business name, you can register as a Sole Trader using your own name.

For all information on business registration you should visit www.ato.gov.au
 
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