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do you have a tax invoice?

by brendan9971
7 replies
hey all,
got another question... do you offer a tax invoice to your clients and have business details? in australia we have an australia business number just wondering if other offline marketeer's have a simular thing..

sure one of you will help me out!

cheers,
brendan
#invoice #tax
  • Profile picture of the author Luke Bishop
    all dependes if your a sole propietor or a registered business?

    if you have an abn and your business is not registered you don't have to include gst... thats if its under the yearly threshold.

    not entirely sure as I'm trying to get my head around it too.
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    • Profile picture of the author WillR
      Originally Posted by Luke Bishop View Post

      all dependes if your a sole propietor or a registered business?

      if you have an abn and your business is not registered you don't have to include gst... thats if its under the yearly threshold.

      not entirely sure as I'm trying to get my head around it too.
      I believe, from memory, the GST threshold is $50,000. I still run as a sole trader under an ABN. Obviously doing things this way you don't have the protection that a registered company will offer you. If something goes balls up they will come after YOUR assets as opposed to the companies assets. However registering a company then means your money is getting taxed twice (company tax + income tax) so you need to weigh up the options yourself and see what fits your circumstances best.
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      • Profile picture of the author brendan9971
        thankyou guys... so am i right in thinking you both have an abn number?
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      • Profile picture of the author AshtonPereira
        Originally Posted by WillR View Post

        I believe, from memory, the GST threshold is $50,000. I still run as a sole trader under an ABN. Obviously doing things this way you don't have the protection that a registered company will offer you. If something goes balls up they will come after YOUR assets as opposed to the companies assets. However registering a company then means your money is getting taxed twice (company tax + income tax) so you need to weigh up the options yourself and see what fits your circumstances best.
        Last i checked the threshold is $75k ... Also you only pay tax once if youre a company. From what i know, when income is paid to employees in a company (yourself if youre an employee which you would be to start) its counted as an expense and not considered revenue to the company (meaning no company tax is paid), only income tax for individual. Check it though but im 95% sure
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  • Profile picture of the author WillR
    Yeah, I sure do. Have had for a few years now. Even if you are not making any money yet you can still register an ABN number (they are free) and claim any business expenses you are making in your attempt to make an income.

    These expenses can build up over years so that when you do finally start making some money all those expenses will be deducted from your taxable income.

    Just remember though, the income and expenses have to be related to the same business. So you can't claim expenses for setting up a fish and chip shop and expect them to be deducted from your income earnt running an online business, and vice versa. They have to be from the same business activity.

    But yeah, if you are trying to make money from an online or offline business and you are spending money on things like hosting, domains, autoresponders, websites, educational materials, etc then they can all be included in your tax each year as expenses against that ABN number.
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    • Profile picture of the author brendan9971
      thankyou for all the infomation will!
      i saw your wso and that is accually what inspired me to start offline marketing to be honest and i was wondering if you set up a business like that do you have to have a abn or if not what else do you need? i was talking to a friend and they said that if the business your supply to wants to write off some of it to tax then i will need a abn number.

      is this information true?
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