GST and the ATO

[dylan11235813]

There is a $75,000 limit for when a seller needs to register for GST with the ATO. Is this $75,000 figure based on the total of the sale price (item + postage + packaging + handling). or can the total sales price by adjusted to only include the item price?

[crowsman53]

I dont think so. I do know GST can be a problem, Your postage, Packaging and any other expenses you must hold receipts so when you buy your envelopes, bubblewrap, tape etc make sure you keep your receipt. Now FVF on eBay for item sold including postage they DO NOT include an ABN Number.. so that is a no go.. I have read somewhere when you lodge an item with AP they can supply a recipte but  they do not give a receipt with tracking from C&S for parcel post. So I would be very careful... GST almost cost me my house and assets 5 years ago

[dylan11235813]

Thanks. I have read about the GST credit thing and I do keep all receipts for tax anyway. I was just wondering when it comes time to actually register for GST.

With the $75,000 limit. Say when comparing a B&M store and online store with the exact same sales volume (same number of items sold and item price). The online store would need to register for GST earlier because they have more money comming in as a result of needing to post items?

[jensmanchester-australia]

The figure of $75,000 is on total turnover which includes sales price, postage costs etc.

[crowsman53]

But You Must Have Receipts eBay Do Not Supply An ABN.

[putney32]

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@crowsman53 wrote:

But You Must Have Receipts eBay Do Not Supply An ABN.

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ebay   dont need to supply an ABN. eBay do NOT issue tax invoices and do not collect GST as they are a Swiss Rgistered company

[rhysy87]

is that $75,000 per year or just $75,000 straight up?

[jensmanchester-australia]

It is $75000 within any 12 month period.

[jensmanchester-australia]

Receipts are nothing to do with turnover. Turnover is income. Receipts are for the expenses you claim against income

[cherry*135]

Your annual turnover includes all ordinary income you earned in the ordinary course of business for the income year. Turnover means your gross income, not your net profit.

ATO