Business Wire

Businesses Selling to Australia: Register Now for New Australian Tax Changes

Jaa

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:

Contact information

Burson-Marsteller
Victoria Kougias
victoria.kougias@bm.com

Tietoja julkaisijasta

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

Intesa Sanpaolo Turns to Gemalto for Italy’s First Biometric Contactless Payment Card Pilot19.12.2018 09:00Tiedote

Gemalto, the leader in digital security, is supplying Intesa Sanpaolo, the number one banking group in ltaly, with the first Mastercard biometric contactless payment card. The pilot promoted by Intesa Sanpaolo and Mastercard allows to test an EMV contactless biometric card for the first time in Europe. Consumers may simply tap their card to any POS terminal to pay and authorize the transaction with their fingerprint, combining a fast and convenient user experience to an advanced cardholder authentication approach. In addition, the card works without a battery as it’s powered by the terminal which means that there is no limit on the number of transactions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181218005481/en/ Biometric payment card (Photo: Gemalto) Enhanced contactless payment working with existing infrastructure Intesa Sanpaolo’s initiative is the latest step forward in the bank’s ambitious digital transformation s

Agreement Between Human Horizons, Wuxi Weifu e-Drive Technology and Protean Electric Will Deliver Mass Produced In-Wheel Motors for Intelligent Connected Vehicles19.12.2018 08:01Tiedote

Human Horizons, the mobility technology innovator, Protean Electric Ltd, the automotive technology company, and Wuxi Weifu e-Drive Technology Ltd. (“WFDT”) are pleased to announce their memorandum of strategic co-operation to develop and manufacture in-wheel motors for the next generation of intelligent connected vehicles. The co-operation brings together some of the most technologically advanced and innovative companies in the automotive sector. A dedicated team and production facility will be created in China to deliver in-wheel motors at scale, simplifying production systems, reducing development lead times and accelerating the benefits that in-wheel motors bring to the market for future transport solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181218005879/en/ Mark Stanton, CTO of Human Horizons and Wang Xiaodong, Deputy Chairman of Weifu High-Technology Group Ltd signed the memorandum of strategic cooperation

Akaal Pharma Pty Ltd Announces Licensing Agreement for its First-in-Class, Topical Spingosine-1-Phosphate-1 (S1P1) Receptor Modulator for Atopic Dermatitis and Psoriasis19.12.2018 02:56Tiedote

Akaal Pharma Pty Limited (Akaal Pharma) today announced that it has entered into a licensing agreement for Akaal Pharma’s First-in-Class, topical Spingosine-1-Phosphate-1 (S1P1) modulator, AKP-11, with Boston Pharmaceuticals, Inc. (Boston Pharmaceuticals). AKP-11 is a differentiated S1P1 modulator, which potentially has clinical applications in a number of inflammatory, immune and vascular diseases. Akaal Pharma has demonstrated the clinical activity of AKP-11 in multiple Phase-1 clinical studies. Under the terms of the license, Boston Pharmaceuticals is responsible for the further clinical development and commercialisation of AKP-11 for the Americas and Europe. Akaal Pharma has the rights for the rest of the world. Financial terms of the agreement were not disclosed. "We continue to actively prioritize and expand our dermatology and pain programs to serve the wider global community suffering from these diseases and where there is need of safe and effective treatment,” said Chairman of

Takeda Announces Listing of American Depositary Shares on the New York Stock Exchange19.12.2018 01:33Tiedote

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) today announced that the listing and trading of its American Depositary Shares (“ADSs”) on the New York Stock Exchange (“NYSE”) is expected to commence on December 24, 2018. Takeda’s ADSs currently trade over-the-counter. The ADSs will now trade under the ticker symbol “TAK” and The Bank of New York Mellon will continue to act as the depositary bank for the ADS program. Takeda will maintain its headquarters in Japan and its primary listing on the Tokyo Stock Exchange (the “TSE”), as well as its current listings on local Japanese stock exchanges. “Our dual listing on the NYSE and TSE reflects our position as a leading global biopharmaceutical company and will provide wider capital markets access with expanded trading hours for our in

Sestek Speech Analytics Scores the Highest Overall Vendor Satisfaction Mark from Customers in DMG Consulting Survey18.12.2018 22:00Tiedote

Sestek today announced that it was recognized for getting the highest overall vendor satisfaction rating from customers in DMG Consulting’s 2018 – 2019 Speech Analytics Product and Market Report. Compared to the featured competitors, Sestek Speech Analytics achieved the highest customer ratings in 8 major vendor categories out of 10. Here are the 7 categories in which Sestek Speech Analytics received a perfect score of 5.0 by the customer satisfaction ratings: • Training and workshops • Ongoing service and support • Professional services • Innovation • Responsiveness to product enhancement requests • Vendor communication • Overall vendor satisfaction Donna Fluss, the President of DMG Consulting -providing comprehensive coverage and authoritative analysis for the market- stated the importance of speech analytics: “Speech analytics has always been interesting because of its unique contributions to the understanding of voice interactions in the contact center. Companies that invest in the

Brand Marketing and Social Purpose Veteran Larry Koffler Joins BCW18.12.2018 21:31Tiedote

BCW (Burson Cohn & Wolfe), a leading global communications agency, today announced that Larry Koffler has joined as Executive Vice President, Managing Director in the agency’s Brand Solutions Practice in New York. He will join BCW on January 14, 2019. “Larry has had an extraordinary career leading integrated communications programs that bridge brand, corporate and purpose for some of the world’s most iconic brands and organizations,” said Chris Foster, President, North America, BCW. “His award-winning experience across a wide variety of industries will be invaluable to clients – and in particular purpose-driven clients – that need powerful programs that exceed expectations and drive meaningful results. I am excited for what he will add to BCW’s celebrated brand solutions business.” Koffler will report to Thomas Bunn, Executive Vice President, Managing Director, Brand Solutions. Koffler joins BCW from Edelman, where he spent the entirety of his career and most recently served as Executi

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