If you are selling online whether it be eBay, Amazon , your own website or all 3 market places, a percentage of your sales should be international and these are GST free.
Please leave me a comment below and let me know what you think.
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Simples – If you are registered for GST, and are therefore ‘collecting’ GST on your sales, then for any item sold overseas ie an Export, is GST free and you can claim back the full amount of GST that you paid your supplier in purchasing that item.
Our Bsn is not export focused, but there have been Qtrs where $2K + has gone Offshore. Its a nice little bonus at GST time as it reduces the amount we need to pay out overall in our BAS 🙂
If you are not registered for GST and don’t do a BAS, then OS sales have no GST benefit.
NOTE – I am not an accountant and offer this info as ‘general information’ from our own experience.
Thanks for the info…. didn’t know that.
I’m about to start my online business so that was great!
Cheers Nina
I wish you the very best Nina with starting your online business! Exciting times Nina!
Title of video is confusing and not much information given in the video. should write a blogpost how it can be done.
Simples – If you are registered for GST, and are therefore ‘collecting’ GST on your sales, then for any item sold overseas ie an Export, is GST free and you can claim back the full amount of GST that you paid your supplier in purchasing that item.
Our Bsn is not export focused, but there have been Qtrs where $2K + has gone Offshore. Its a nice little bonus at GST time as it reduces the amount we need to pay out overall in our BAS 🙂
If you are not registered for GST and don’t do a BAS, then OS sales have no GST benefit.
NOTE – I am not an accountant and offer this info as ‘general information’ from our own experience.