New Rules of the GST on Imports in Australia

The import tax in Australia is now not a surprising factor, people are already knowing the terms but they are not aware of some rules and regulations. Here are some questions that provide the perfect information about the tax changes in Australia.

1. Who will be affected by the GST on imports Australia new rules?

        The affected companies can be:

• Traders: Who sell products directly to consumers.
• Electronic distribution platforms (EDP): Such as websites that offer a market for merchants to sell products to consumers.
• Redelivers: Companies that consumers hire to provide shopping or mailbox services, service that offers consumers a specific email address abroad, and then repacks and forwards the products to the consumer.
• Foreign business:That sells to Australia.

Foreign suppliers with Australian sales who are subject to a GST of AUD75, 000 or more per year, must: 

• Register with the Australian Taxation Office (ATO).
• Collect GST on imports in Australia for sales of low-value imported goods to consumers (Unless they are free of GST or of alcoholic beverages and tobacco products).
• Lodge returns with ATO and makes payments.
• Ensure that certain information is included in the customs documents for the products.

The ATO is communicating, educating and helping the affected companies to comply with the measure.

More information can be obtained on the ATO website at GST on imported low-value goods, including information specific to carriers and customs agents.

2. Who is not required to pay GST on Imports in Australia?

This new GST import tax Australia rule only applies to sales of imported low-value products to consumers in Australia.If your customer is a registered company, (that is, not a consumer) who bought the goods for use in your business in Australia, they are not charged by GST and are not obligated to pay them.If your company is a recipient of low-value goods, you must notify your suppliers of your GST record to ensure that they do not charge you twice for GST.

     3.  What is the GST on Low-value imports?

This tax changes Australia measure treats sales of goods valued at AUS $ 1,000 or less as subject to GST if the goods are purchased by Australian consumers and brought to Australia with the assistance of the supplier.

The EDPs will be treated as suppliers if the goods are purchased through an EDP and brought to Australia. This measure does not apply to the import of goods valued at more than AUS $ 1,000 or to shipments of multiple goods with a total value higher than AUS $ 1,000.

In these cases, the GST is payable by the importer at the border under the existing GST standards. Again, this measure does not apply to sales made directly to companies registered in Australia that make purchases only for commercial use.

At the last:

These are the most searched and viewed FAQs, even you can get the idea from that for the GST on imports Australia new rules and regulations.

Know About Import Tax and GST Imports

Australia is a sound nation as per the view of economic situation and apart from this, it has a plausible taxation system. The main foundation or let’s say pillar of tax collection in Australia is usually carried out by Australian Taxation Office. To be more precise, this is an important part of government, which basically does the job of collecting different types of taxes from firms, companies, individuals and few more to name. Also, the highest amount of revenue is generated from income tax collected by individuals.

As you all might know that GST on imports in Australia is collected by the Australia Customs Service (ACS). Normally it is 10% of the total value of the imports tax in Australia. The taxes collected by the taxation office is usually used by the goveranment to make certain types of transfer payments and is also used to pay for public services as well.

When it comes to importing or exporting goods to and from Australia, then to be precise, it may be subjected to certain types of inspections and customs duty/GST as well. Besides this, there are certain other applicable taxes, which may be dependent on certain types of factors or circumstances. When it comes to goods imported through post usually get clearance from Australian Quarantine and Inspection Service whose abbrevation is (AQIS). It may happen that certain types of goods are opened then and there by the Australia Post on behalf of Customs Border Protection, whichis done basically with the aim of value assessmentor for carrying out inspection process to know the possibility of presence of restricted or prohibited items or goods.

How the custom duty and GST is calculated?

The custom duty is usually calculated or may be computed based purely on the customs value. This usually corresponds to the price, which has been usually paid for the goods which have been imported at the time of exports which has been converted to Australian dollars. Depending on the nature of the product and its duty rate, the custom duty can usually vary from 0 to 10% of the custom value of goods. Further, the calculation or computation of the GST is done by adding up custom duty, custom value, cost of insurance as well as international transport and usually 10% of the total is the amount calculated or considered as GST.

To get more in-depth information about GST or import tax in Australia, you can do bit of research and study relevant websites, which will give you enough information about how it is calculated and what are the things, you need to care about while importing or export to Australia. If your business is into the import and export of goods, then it is really very important to make yourself aware about all the pertinent things related to GST on imports in Australia.

Thus, this will help you to make yourself about all the taxes related to importing or exporting of goods from or to any other country or place.

Article Source: What You Need to Know About Import Tax and GST Imports?

Thinking about Export & Import Tax Australia

Australia holds the pleasure of being one among the top providers of quality goods in the entire globe. The seaports and air-ports of this nation are always active and they play a role a great share towards the success of dealing actions in this nation. The important dealing facilities in this nation for produced goods and products are the cities of Melbourne and Sydney. In the present situation, the Import Tax Australia is for more than 200 nations across the entire world.

GST is due on most goods brought in into Australia. However, if you are a GST authorised company or business and you import goods in continuing your company, you may be able to GST Changes Australia for any GST you pay on the importation. The Australia Customs Service (Customer) gathers GST on taxed importations and Import Tax Australia. GST is 10% of the value of a taxed importation.

Why Choose the Business of Importing into Australia?

Australians like to maintain a top-notch life and since they do not make most of the goods they need and want, those goods have to be brought in. Imports to Australia include trucks, cars, equipment, transportation devices and areas for all of the above. Computers, computer parts, office devices and telecoms devices are also typical imports of Australia. Primary associates for imports of Australia are the countries of the European Union, the United States, China and Japan.

Australia depends on imports for well over 80% of its oil and oil goods. In addition to these major imports, Australia also imports fabrics, shoes and outfits, and various other customer goods. If you're looking for a promising business venture, you should consider Export Tax Australia and also GST Changes Australia.

Getting Started with Export to Australia   

When you make to starting a business in Export from Australia, you need to decide what product you are going to Export. Many goods are not manufactured in Australia, but just because something is not easily obtainable don’t mean that there is a market for it. You need a creation that is in demand of Export Tax Australia and that can be brought in and sold at an income. Just because something is affordable to purchase doesn't mean it will give up exporting.

You have to consider not only the initial cost of GST on Imports Australia, but delivery expenses, customs expenses, expenses for transportation from your item's arrival point to you, and insurance, Import Tax Australia before you can determine your benefit edge.

In other words: do your homework! You need a well-researched and thought out a plan before you begin importing into Australia. This will keep you from spending money. Luckily, you are not the first person to start a company with imports from Australia, so there are guide guides out there, written by people who have done exactly what you are trying to do. These guidebooks will help you to avoid the typical problems of GST on Imports Australia.

Conclusion:

Professional in the field of Import and export business in Australia also shows that the currency of the nation to which goods will be delivered and the exchange rates should also be considered.

Article Source: Starting a business with Australia: Consider Export & Import Tax