If your business is not registered for GST, this impacts the way payments are processed to you from MyDeal.
For all products sold and shipped from sellers who are not registered for GST (Including sellers based outside of Australia), MyDeal will:
- Add 10% GST to the sale price of your products.
- Collect the 10% GST from customers and remit it directly to the Australian Taxation Office.
For more information on this, please refer to the ATO website.
This will impact your:
Tax Invoice - You as the official seller of the goods is not required to quote GST in your tax invoice where applicable.
Payment - Your payment remittance will not include GST.
Please refer to the table below to see how your business circumstances can affect your payment from MyDeal.
Commission = 16.5% inc GST
Seller Provided Price = $90 inc GST
|Seller Not Registered for GST||Seller Registered for GST|
|A. Sell Price||$90||$90|
|B. GST Payable by MyDeal (A / 11)||$8.18||$8.18|
|C. Net Amount to seller||$68.32||$75.15|
|D. GST Payable by Seller (C / 11 if registered for GST)||$0||$6.83|
|E. MyDeal Net Commission (A - B - C + D)||
Pricing - Should you be adversely impacted by the current pricing structure and wish to keep the same amount payable to you, sellers are advised to increase or adjust the sell price accordingly.