Businesses Selling to Australia: Register Now for New Australian Tax Changes
Businesses selling low value goods from offshore to consumers in Australia should register now for goods and services tax (GST). GST will apply to those sales from 1 July 2018. GST is like a sales tax or VAT.
This new taxation measure ensures low value goods purchased by consumers in Australia will have the same tax treatment, no matter where they are purchased from.
The Australian Taxation Office (ATO) has opened a fast-tracked registration system for affected businesses, which include merchants, online marketplaces and goods re-deliverers. Businesses will have until 1 July 2018 to register and prepare to charge GST on goods valued at A$1,000 or less.
The simplified registration system is available at ato.gov.au/GSTSimpleReg. Businesses will only need to report Total Taxable Sales and GST, and pay once each quarter.
Businesses are required to register if they have a GST turnover of A$75,000 or more in a 12-month period.
Businesses will apply the 10 per cent GST to their products at the point of sale (i.e. on the supply of the good) and not at the point of importation, as currently happens with goods over A$1,000.
Businesses who sell through an online marketplace need to talk to their online marketplace operator to confirm how they will practically work together to implement the changes.
Only one entity is required to charge GST on a sale:
- if an online marketplace operator is responsible for GST on a sale, the merchant will not be responsible for GST
- if an online marketplace operator or the merchant is responsible for GST on a sale, a goods re-deliverer will not be responsible for GST.
- Visit the website for more information
Businesses can take the following steps to ensure that they will be able to comply
- Check to see if they meet the registration threshold of A$75,000 – find out what sales are counted towards the threshold on the ATO’s website.
- Consult tax professionals
- Consider changes to commercial documentation and pricing
- Request advice from the ATO
Businesses selling from offshore to GST-registered Australian businesses do not need to collect GST on these sales.
The ATO is available to support businesses that want to understand the new changes.
More information about registration can be found by:
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Pierre Fabre Receives EU Approval for BRAFTOVI® (encorafenib) + MEKTOVI® (binimetinib) in Adult Patients with Advanced BRAF-Mutant Melanoma20.9.2018 20:21 | Tiedote
Pierre Fabre today announced that the European Commission (EC) has granted marketing authorisation for the combination of BRAFTOVI® (encorafenib) and MEKTOVI® (binimetinib) for the treatment of adult patients with unresectable or metastatic melanoma with a BRAF V600 mutation, as detected by a validated test.1,2 The EC decision is applicable to all 28 European Union (EU) member states plus Liechtenstein, Iceland and Norway. "We are extremely pleased that European patients with advanced BRAF-mutant melanoma will now have the combination of BRAFTOVI and MEKTOVI as a new treatment option”, said Frédéric Duchesne, President & CEO of the Pierre Fabre Pharmaceuticals Division. “All of us at Pierre Fabre are driven to make a real difference for patients. Bringing more than 30 years of oncology experience and our heritage in dermatology to our partnership with Array BioPharma, we have been able to harness our expertise in order to help men and women living with this devastating disease. Today’s
Clothesource Report Shows Retail Sales Aren’t Falling or Moving Online: Management’s Let Itself Get Misguided20.9.2018 20:19 | Tiedote
According to a new Clothesource report, “The Emperors’ Clothes” retail sales aren’t falling, and they’re not leaving physical stores. Both the UK’s Office of National Statistics and the US Bureau of the Census report higher retail sales than ever – with sales in physical stores still growing every year. Retailers just need to rely on their own customer understanding, recapture their self-confidence, and rediscover their traditional frugality. Among recent front-page stories have been Sears in the US hinting it’s about to go under and profits at Britain’s John Lewis falling 99%. But the well run clothing retailers are prospering. Primark goes from strength to strength: the biggest clothing specialists on either side of the Atlantic (Inditex and TJX) have just upped their sales and profit forecasts. So it’s not about consumer purchasing: The main problem lies with management, says Clothesource CEO Mike Flanagan in a new report “The Emperors’ Clothes”. They’ve lost touch with their custom
BCW Names Latin America Market Leaders20.9.2018 19:23 | Tiedote
BCW (Burson Cohn & Wolfe), a leading global communications agency, today announced the appointment of market leaders in Latin America who will be responsible for business growth, client satisfaction and talent development. All market leaders report to Francisco Carvalho, President, Latin America, BCW. “BCW has a dominant presence in Latin America, thanks to Burson-Marsteller’s 40-year-history and expansive footprint across the region and Cohn & Wolfe’s strength in Brazil and Mexico,” said Carvalho. “This team has unmatched market knowledge, strong client relationships and deep commitment to talent, all of which is critical for our continued success in the region. Those strengths, together with our industry-leading expertise in delivering digitally driven integrated communications programs, make BCW a powerful partner for our clients.” All of BCW’s Latin America market leaders have been drawn from the legacy Burson-Marsteller organization and had been leading their respective markets, e
NavVis Achieves Breakthough 6D SLAM Indoor LiDAR Mapping With Velodyne’s 3D LiDAR Sensor20.9.2018 17:43 | Tiedote
On April 18th, 2018, NavVis released their M6, a fully-integrated, cart-based system designed for large-scale indoor mapping. The M6 utilizes VLP-16 sensors by Velodyne LiDAR, Inc., which allows it to produce a 3D map of the surrounding environment. Six cameras capture 360° immersive imagery and photorealistic point-clouds, resulting in high-resolution mapped images. NavVis developed this product in response to their customers’ request for a more versatile and sophisticated system which could be used effectively with uneven terrain. In addition to AEC professionals, construction companies and manufacturers can also draw benefits from the higher data quality provided by this enhanced innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180920005560/en/ NavVis M6 is a fully-integrated, cart-based system designed for large-scale indoor mapping. (Photo: Business Wire) The M6 was developed by NavVis after customers requeste
Steve Bannon’s New Documentary Film Trump @War Launches Free Online Access20.9.2018 17:34 | Tiedote
Trump @War in conjunction with its online distribution partner, The Western Journal, is pleased to announce that the full length HD feature film Trump @War is free and available to viewers worldwide at Trumpmovienow.com. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180920005553/en/ Watch free full-length feature film: trumpmovienow.com (Photo: Business Wire) “The Western Journal does great work and we are happy they are partnering with us,” stated Stephen K. Bannon. “It’s a film that every American, regardless of political belief, should watch. It’s a historic time for our country, and no one should be sitting on the sidelines during the upcoming elections.” Directed by Bannon and produced by Dan Fleuette, Trump @War is a retelling of the most significant election campaign in modern U.S. history and a look forward to the high-stakes midterm election in November 2018, which will cement President Trump’s legacy. “Steve Banno
GTIS Partners Grabs Top Spots in Prestigious GRESB Sustainability Ranking20.9.2018 17:24 | Tiedote
GTIS Partners LP (“GTIS”), a real assets investment firm headquartered in New York City, with offices in São Paulo, Los Angeles, San Francisco, Atlanta, Paris and Munich, today announced that the GTIS Brazil Real Estate Fund (“GTIS Brazil Real Estate Fund I”) has been recognized as 2018’s most sustainable private equity real estate investment fund in South America by the Global Real Estate Sustainability Benchmark (GRESB). This is the fourth year running the fund has clinched the top ranking. GTIS Brazil Real Estate Funds II and III took second- and third-place honors, respectively, matching the funds’ 2017 survey rankings. “Our across-the-board top-place rankings are a testament to the day-in, day-out efforts of the entire GTIS Brazil team, who’ve incorporated environmental, social and governance principles into their investment and management practices,” said Josh Pristaw, Senior Managing Director, Head of Capital Markets and Co-head of Brazil at GTIS Partners. “What we’re most proud
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme