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Etsy store, goods are made and sold overseas.

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Hi,

I opened an Etsy store about 6 months ago, selling personalised jewellery. However, I only need to manage the store and do customer services , the stock is made in Singapore and shipped directly to customers in USA and other countries, NOT Australia. (Occasionally I will have one or two customers from Australia). Being in Australia, Etsy paid my sale into my bank account, then I’ll have to pay the company in Singapore COGS and shipping fees. My profit is around 10-15%

Do I need to register for business at all as my business isn’t operated in Australia and not for Australian market? I was thinking of putting my profit as foreign income when lodging the tax return, is this the right thing to do?

If I need ABN, how does the GST works? (revenue is over $75k)

Thank you.
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Most helpful response

Devotee

Replies 0

Hi @Laluna

 

Thank you for posting.

 

Our webpage on who charges GST explains what is required if you use an electronic distribution platform (EDP)  such as Etsy.

 

I hope you find this helpful.

1 REPLY 1

Most helpful response

Devotee

Replies 0

Hi @Laluna

 

Thank you for posting.

 

Our webpage on who charges GST explains what is required if you use an electronic distribution platform (EDP)  such as Etsy.

 

I hope you find this helpful.