From 1 July 2017 your overseas clients with an Australian turnover of $75,000 or more will need to register for, collect and pay GST on goods up to $1,000 that they sell to consumers in Australia.
If your clients are registered for GST and buy low value imported goods for their business from overseas, they will need to supply their ABN at the time of purchase so they won’t be charged GST.
If their business is not registered for GST they will be treated as a consumer and unable to recover the GST charged by the overseas business.
These proposed changes are currently before parliament. A draft Law Companion Guideline and other guidance are available on our Let’s talkExternal Link page. You can provide feedback until 24 March.
source:
About Authors : Swan Partners is a progressive service provider dedicated in providing high quality tax consultancy, accountant in victoria park, bookkeeping service in perth, BAS lodgement service in perth and accounting services to individuals, sole-traders, partnerships, trusts, and companies.
No comments:
Post a Comment