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Australian References - Tax Accounting Legal

byAlan Crabbe · 8th Jun 2010

Pozible provides the following information as a reference for anyone using our service. Pozible cannot and does not offer tax-related advice to any Members of the Site, Application and Services. Additionally, please note that each Project Creator is responsible for determining local indirect taxes and for including any applicable Taxes to be collected or obligations relating to applicable Taxes in Listings. As agreed in our terms and conditions, you understand and agree that you are solely responsible for determining your applicable Tax reporting requirements in consultation with your tax advisors.

Relevant references and articles for individuals on the Australian Tax Office website: Is it a business or a hobby

Australian Business Number (ABN) Entitlement

The information below is referenced directly from the Australian Business Register website at www.abr.gov.au. The section below refers to individuals but there is more information for companies and partnerships here.

Individuals (sole traders)

If you are an individual applying for an ABN, you should check your entitlement to register here. You are entitled to an ABN if all of the following statements are true. Your activity is carried out in the: form of a business nature of trade, or form of a regular or continuous grant of a lease, licence or interest in property. Your activity is carried out in Australia or you make supplies that are connected with Australia. You have a reasonable expectation that a profit will be made from your activity. You are not entitled to an ABN if any of the following statements are true. Your activity is carried out as an employee or in connection with earning payment as a company director, office holder or under a labour hire arrangement. Your activity is a private recreational pursuit or hobby. Your activity is conducted as a member of a local government body, for example, as an elected member of a city, town or shire council.

Australian Tax Office

Pozible Members should refer to the following link for information on Australian Tax obligations: www.ato.gov.au

Contact Details here.

GST Policies

Due to government enacted legislation, from 1 July 2000 items bought and sold by Australians may be subject to a goods and services tax ("GST"). Pozible strongly suggests that members contact the Australian Taxation Office ("ATO") or their taxation advisor for information on the GST. The Australian Taxation Office can be contacted at the following address: www.ato.gov.au The following is provided for information purposes only. If you require advice in relation to GST issues, Pozible strongly advises you to seek the services of a tax or accounting professional. You might also like to contact the Australian Taxation Office (“ATO”) (www.ato.gov.au) and/or the Australian Competition and Consumer Commission (www.accc.gov.au).

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