from what i have gather, GumRoad are set up in Australia as a GST registered business and when acustomer purchases one of my products through their platform they pay the GST as they are the MOR and are register for GST.
I have only just set up this "business" so do not have an abn or acn or anything.
so anything i make will go directly towards my taxable income for now on top of my salary.
I understand there is a 70k-75k threshold for GST and you have to register for gst after earning (x) amount.
if i was to earn > gst threshold through this venture will i need to register for GST? and pay GST on top or not? im kind of confused.
I am under the impressions of:
as long as my products are being sold through gumroad and gumroad is paying the GST as they are the MoR, I will never have to pay GST regardless of how much they pay me? is this correct? just wanting to make sure i have everything right as i dont want to end up with a massive tax bill if i start making real money.
sorry if this question has been asked i just couldnt find a straight answer.
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