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what Tax will do I need to Pay?

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Newbie

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Replies 1

hey guys, 

i have recently opened up a drop shipping store with shopify, before i start selling i would just like to clarify a few things ragrding the tax laws around this stuff.

so if you dont know, dropshipping is a form of sales where, a customer will buy a product from my website, i then order that product from a supplier, in my case Aliexpress.com (chinese company) and ship to my customers address wherever that may be.

so i have 2 main questions regarding the laws around that.

 

my first question is, i know i will need to pay income tax, i have registered my website with an ABN and stuff but i want to know how will i pay the income tax will i just need to lodge that every quarter or something, how do you pay income tax with an ABN?

 

my second question is, obviously i will have to charge GST on a product if my Customer lives in australia because i will be importing a product from china to australia, but i want to know if my customer lives in the USA or Europe or something, will i need to pay tax on that shipment to, ei. if i have to order a product from Aliexpress.com and ship it to the UK, will i need to still charge a sort of sale tax?

 

thank you for the help.

1 ACCEPTED SOLUTION

Accepted Solutions
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Most helpful response

Taxicorn

Replies 0

@HenriWelman 

 

Your 'business' income and deductions are reported on your normal tax return at item 15.

 

Unless you anticipate turnover of over $75,000 (i doubt it) you do not need to register for GST and lodge BAS every 3 months.

Even if you did, you still need to also include this on your tax return.

 

 

1 REPLY 1
Highlighted

Most helpful response

Taxicorn

Replies 0

@HenriWelman 

 

Your 'business' income and deductions are reported on your normal tax return at item 15.

 

Unless you anticipate turnover of over $75,000 (i doubt it) you do not need to register for GST and lodge BAS every 3 months.

Even if you did, you still need to also include this on your tax return.