Australian Tax, Imports/Exports, International Trade Consultant

[electricblue]

Hey All,

I just posted a job on Odesk. If anyone here meets the following please let me know...
----

Hi there,

We simply need someone to consult with that has deep knowledge and experience with ...

* The ATO in Australia
* Imports / Exports business
* International Business transactions
* How to be sure a business claims for everything properly to receive optimal tax benefits too.

This is all for...

* An Australian Based Company

We're looking for a quick, short term advisor to have a Skype chat with on how things need to be set up properly for tax purposes in Australia. If you can answer some of the questions below, than you're the person we're looking to chat with:

1. Should we be charging GST for both Australian and international transactions?

2. Does it matter if we collect payment in USD or AUD?

3. If we collect payment in USD, does it hurt us in anyway such as causing us to have to pay more in taxes, or would it be more beneficial to have all sales be in AUD?

4. Imports / Exports: Part of our services require importing products from another country, into Australia for distribution ... as well as having those products sent directly from that country, to another country such as the United States --- Is there anything we should be claiming or arranging for tax purposes on these imports/exports?

5. Is there any difference in how we're taxed for having contractors on our team (such as on Odesk) verse having full time Australian based employees? Which would be better for tax purposes?

All around we need someone to give us clear direction and advice on what we're dealing with --> eg. taking away all the many steps and hours of research through the ATO website (in other words, you're our advisor for this)

IN YOUR APPLICATION:

* Please propose your fee for 20-60 minutes of consulting.
* Please share your experience with these matters on how we can trust you're the best person for us to consult with.

Essentially there are many different ways of going about business. There are some that are better your taxes. We however don't know how to navigate that realm or determine our choices, or even our options! If you can help out with this, consider yourself our advisor!

Thank you.

[electricblue]

Surely there's someone? ;-)

-E

[electricblue]

Hmm, I don't see a button on the page to subscribe to the thread. Writing again to select the option...

-E

[FS Concierge]

Originally Posted by electricblue

Hmm, I don't see a button on the page to subscribe to the thread. Writing again to select the option...

-E

Hi electricblue,

If you visit the 'Control panel' (in the grey bar above the forum) and select 'Edit options', you'll find a section about halfway down the page called 'Default Thread Subscription Mode.' Choose the option that suits you best from the drop down menu, and then scroll to the bottom of the page to save your setting changes.

Hope you find the right person soon,
Jayne

[Cat - GLC]

Hi Electricblue,

I may have someone that can help you with this. He is our bookkeeper/consultant and great with advice. Not sure if he has skype at all but give him a call and he may just be able to help you out.

His name is Glen White and his number is 0467 555 605.


Regards

Cat

[electricblue]

Hi Cat,

Thank you! Does he have an e-mail address you could private message to me? I'll shoot him a quick and concise message with some of the questions to see if it would be worth a chat. Otherwise I'd like to respect his time by not giving a surprise call :-)

-E

[Cat - GLC]

No problem. Can do. Will shoot it through first thing monday morning for you.

Originally Posted by electricblue

Hi Cat,

Thank you! Does he have an e-mail address you could private message to me? I'll shoot him a quick and concise message with some of the questions to see if it would be worth a chat. Otherwise I'd like to respect his time by not giving a surprise call :-)

-E

Regards

Cat

[interAccounts]

Hi Electricblue,

For you to receive the correct advice, you'll need to speak to an Australian registered tax agent - any tax accountant in Australia will have this registration. This is a strict registration and to be able to get it, you need to prove you have a lot of experience and understanding of the whole Australian tax law.

Just in case other readers have similar issues, I'll outline the basics to some of your questions. As each person's situation is different, its best to have these clarified with your specific situation first, before taking any action.

In relation to GST, any Australian business with a turnover of $75,000 or more needs to register for GST (regardless where money is from). You can choose to register for GST if you have a lower turnover. There are many reasons why people would register for GST with a low turnover.

Exports are GST free so GST shouldn't be added to them. Any sales to Australian businesses however must have GST attached.

Customs will charge GST on any imports which is separate to the actual purchase.

From a taxation point of view - it doesn't matter what currency you are paid in, as any Australian company or person is taxed on their worldwide income. It would come down to how you want your business to run as to which currencies are suggested to be used. You may be charged conversion fees from your bank account if your using currencies other than AUD.

When deciding on the expenses for your business, the first question should never be taxation related. It should be 'What's best for my current business practices?' If you're looking at taxation first, then you'll most likely be wasting money. This is because expenses are used to reduce your tax payable - you don't get 100% of the expense back - most times its only 30%. Its also good to keep in mind that only profitable businesses pay tax - where do you want yours to be?

One thing not mentioned is your business structure. Its best to ensure that you're using the right one for your circumstances as they also affect how you are taxed.

I'm happy to discuss this in detail with you (or anyone else in similar situation) if you wish.

Good luck in your business endeavours.

Cheers,

[electricblue]

Hi Beth,

Thank you so much for this. It is very helpful.

Would you PM me your contact details along with a breakdown of the various services you offer and associated fees? I'd be interested in taking a look at them and potentially chatting with you further.

-E

[interAccounts]

Hi ElectricBlue,

Just sent you a PM as requested.

I Look forward to helping you.