How to set up Australian taxes in your Shopify store in 2024
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- Опубликовано: 3 авг 2024
- G’day mate! If you own a Shopify store in Australia, you need to know when to charge goods and services tax (GST) to your customers.
GST is a 10% tax charged for almost everything that gets sold in Australia.
This video will help you configure your Shopify taxes correctly, taking Australia’s taxation changes valid from March 2023 into account.
It’s a little intimidating, but we’re sure Djimi can explain it-from tax-exemptions to digital goods-it’s all covered in this quick and easy video guide!
For more information, read through our GST guide for Shopify stores in Australia: go.sufio.com/australia-gst
Learn more about GST-free sales:
www.ato.gov.au/business/gst/w...
Sufio is the leading invoicing app for Shopify merchants worldwide, including the UK. Our powerful and automated solution makes invoicing easier than ever, leaving you with more time to focus on growing your business. Whether you’re about to launch your first ever store or you’ve already made it a household name, you can count on Sufio’s customer success team to help you configure both your invoices and taxes with compliance in mind.
Start your 14-day free trial today to experience the peace of mind automated invoicing provides: apps.shopify.com/sufio?ref=RUclips_t47ZFzqDQXQ
⚠️ While we’re happy to make educational videos about setting up Shopify taxes, we encourage you to speak to a local tax authority regarding your tax duties.
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Here's what we'll cover in this video:
0:00 - Introduction
0:14 - GST in Austra
0:48 - Not GST registered
1:08 - GST registered
1:48 - B2B and B2C
2:13 - GST-free, input-taxed sales
3:18 - Digital goods
3:48 - International sales
4:56 - Set up taxes in Shopify store 
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Just came across this video and I just have one question since the taxes dashboard is now different on Shopify. I'm starting a Print on demand Business and the taxes dashboard has something called the shipping regions and by selecting the countries that I will be shipping to, that means that if I'm GST registered I will be charging to those countries that I've selected??
Hey, loved the video it was vary informative and easy to follow. I just about wrote down everything you said but am still a little unsure of something. So i have not started my store yet and am just at the section of setting up the payments just want to clarify. From what you'd explained in the video dose that mean i will not be taxed from my profits until my minimum turn over exceeds $75,000, like as if i was to make a sale of $70 would i still be taxed 10% being $7 or because I'm not yet GST registerd i keep my profits until then? (hope that makes sense)
Thanks for the kind words about the video! I'm glad you found it informative, @skateboard1938. You’ve raised a great question about how GST applies before reaching the turnover threshold.
You are correct that you need to register for GST once your business reaches or expects to reach a GST turnover of AUD 75,000. Until your turnover crosses that threshold, you're not required to register for GST, and consequently, you should not charge GST on your sales. This means, for a sale of $70, you wouldn’t add GST of $7 to the price, as you are not yet registered.
However, it's important to differentiate between GST and corporate income tax. Not charging GST on your sales does not exempt you from potential income tax on your profits. Income tax obligations are separate and depend on the profitability of your business, not just on turnover.
Hope that helps!
what if I'm selling to Australia but I'm located in Canada?
If you're selling to Australia from Canada, you need to register for and charge Australian GST once your sales reach A$75,000 per year, even if you're located in Canada.
You must charge the 10% Australian GST on all sales to Australian consumers, whether for digital products or physical goods shipped there. Hope that clarifies the situation! You can learn more on the ATO website: www.ato.gov.au/businesses-and-organisations/international-tax-for-business/non-resident-businesses-and-gst
i just started my dropshipping business and about to launch it. Do i need an abn? i heard it is free to get a abn but isnt there something you have to pay for. very new to everything and never had a proper job, im only 19. also my plan is the have a buisness short term for exam. lots of people make multiple and then closed it. for example you start a business for a month and sell a viral product and once not making sales really, usually close it and make another one. i think thats what most people do im not to sure, even if you make money quickly. idk im just new and confused
Hey man I live in New Zealand and I'm about to launch my store soon as well. I'm not sure how different Australia is from New Zealand when it comes to integrating a business but usually its very similar. In New Zealand it is compulsory to integrate a business no matter how small it is, in Australia I think its not mandatory but it does make it easier when you have to pay taxes. If you don't have one you'll probably have to pay the highest tax percentage which is 47%. I paid about $150 for the trademark of my brand name and for the business integration to make it legal in New Zealand. By getting your business integrated you will get your business number and an IRD number that will help you with taxes and end up paying less. A side note to the perspective of what you said dropshipping is is pretty much right. If you want to only make a bit of side money from it you are always pretty much chasing new products and stuff, but honestly as long as you find a killing product you can stick with that and create a proper brand. I started dropshipping recently as well and the best advice ive gotten is there is no such thing as saturation. As long as you are doing something new, different or better have no doubt it'll work, I know it gets overwhelming with so much new stuff but just dont give up easily and you,ll see results. Hope this helped a bit 👍🏼
@@lol-p7m i just very bad at marketing also idk how to get good views and also because tiktok u need certain things to have clickable link, i do wanna make so much money from it at one point but idk when exactly, i have a bit of health issues i wanan try get better or change it a little bit also and get a part time job, this would help me then maybe register business or other stuff and yh thx g love
Hey @GodIsFirstEdits! Congrats on starting your dropshipping business. It sounds like you’re diving into a lot of new stuff, which can be both exciting and overwhelming.
Regarding the ABN (Australian Business Number), yes, it’s free to apply for one, and having an ABN is mandatory when doing business in Australia.
Hope that helps. All the best on your dropshipping journey!
the first 5 minutes of this video were a waste of time.
Sorry about that! The first 5 minutes were just a warm-up. The real fun starts after that! 😄 Thanks for sticking around!