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| *Ostroff, Fair and Company>>>Australia Taxes |
What is your advice on tax and having an Ebay business? |
What is your advice on tax and having an Ebay business? eBay Warns Australian Sellers of New Tax Policy eBay sellers in Australia must comply with the site's new policy regarding taxes. Businesses with an annual turnover rate exceeding AU$50,000 are required to register for the government's Goods and Services Tax (GST). eBay's policy now requires all sellers who are required to be registered for and pay GST to ensure that GST is included in the price of the item from the time it is listed. eBay warned sellers that they must not add GST on top of the final bidding price or Buy It Now price once the item has been won or bought. This means that all listings on eBay are considered to be GST inclusive, where GST is applicable to the transaction. eBay Australia said it made the change after liaising with the Australian Competition and Consumer Commission (ACCC) and receiving member feedback. "eBay strongly suggests that members contact the Australian Taxation Office ("ATO") or their taxation advisor for information on the GST. The Australian Taxation Office can be contacted at the following address: www.ato.gov.au." The policy goes into effect on June 13. Source(s): http://www.auctionbytes.com/cab/abn/y05/... http://www2.ebay.com/aw/au/200505.shtml#... |
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