@beverly8406 wrote:
All sellers in Australia (if you do not have an ABN number ) are being charged 10% GST on listing fees and final value fees - so everyone will be increasing their postages cost to cover this-
This is not quite right.
You can have an abn and still be charged the 10% gst.
In order to avoid it entirely, you would need to have both an abn AND be registered for gst.
When you are a gst registered business you will need to be completing quarterly BAS and banking your gst for onforwarding to the ATO after deducting all your business gst inputs.
This level of compliance is onerous to small businesses who are usually sole traders or family businesses.
As such the ATO does not require a business to register until turnover exceeds $70,000 pa
Once you've registered for gst you'll need to invest in accounting software, an accountant and a bookkeeper.
You'll be having to do daily, monthly and quarterly reconciliations.
You'll have to learn the ins and outs of trial balancing and you'll fret over the possibility of a please explain from the ATO.
(penalties for mistakes with BAS are quite significant as are late fees).
In short, avoid registering for gst if at all possible as you'll be spending far too much time tending your books instead of your business.
