New eBay Amazon GST – A Win For Australian Sellers.
Transcribe of “New eBay Amazon GST – A Win For Australian Sellers”
Hi guys, Neil Waterhouse. Last week the new Australian GST Law came into effect where all lost cost imports. Which cost less than $1,000 automatically get charged 10% GST. Companies like eBay, Amazon and other online retailers they’re now tax collectors and they automatically add an extra 10% to the price of any overseas item listed.
eBay Amazon GST
What this means is if you’re an Australian based Amazon or eBay seller, your international competitor’s prices just got put up an extra 10%. Here’s an example. This item’s a battery charger. As you can see from the screenshot, it’s being sold by an eBay seller in China. The price that it’s selling for now is 10% more than it was on June 30.
10% has been allocated for GST
If you purchase this item, eBay will display the following, whereas you can see 10% has been allocated for GST. eBay, Amazon and other Australian registered GST businesses now must automatically collect GST from any international purchase under $1,000 and pay it to the Australian Taxation Office.
The good news for all of Australian based eBay and Amazon sellers
The good news here is for all of us Australian based eBay and Amazon sellers, is this creates a much more level playing field as competitors in other countries, like China, are now, in effect, paying GST like the rest of Australians which means that all listings from international sellers are now 10% more expensive. That’s all this week. Wherever you’re watching this, please scroll on down, leave me a comment below. Until next week, list more, sell more, this is Neil Waterhouse.
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