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| Klemantina | 03-22-2015 05:17 PM |
Business, enterprise, corporation etc...
I'm a bit confused with all the information out there, I hope you can help me better understand how it works.
I started with 100$ in my bank, now I got my first ABN(AU business number), having problems with the 20k-200 limits and a tax review on a couple of Amazon accounts.
If i'll give them my ABN i obviously can't give it again so what should i do?
1) Make more ABNs? how far i can go?
2) Form an enterprise/corporation/company or whatever and then i can make as many tax id's as i want? what would be the best way?
3) From reading couple of threads i understood that probably a partnership will be best option? does it apply only for US?
Can somebody please help me understand whats the best way to deal with those limits? |
| yankee | 03-22-2015 05:19 PM |
Re: Business, enterprise, corporation etc...
These accounts are USA based? |
| Klemantina | 03-22-2015 05:55 PM |
Re: Business, enterprise, corporation etc...
Nope, all Australian. Soon will be European and my next stop is US. Hopefully i'll also make a business trip to China this year. |
| yankee | 03-22-2015 06:14 PM |
Re: Business, enterprise, corporation etc...
you have a 200 item 20K law in AU? |
| Klemantina | 03-22-2015 06:21 PM |
Re: Business, enterprise, corporation etc...
99% sure we do, i'm about to hit 150 sales on many accounts and i got hit with the 50 transaction limit on couple of accounts with amazon so i'm trying to figure what to do now because i dont have many tax id's... |
| GreenBean | 03-22-2015 06:23 PM |
Re: Business, enterprise, corporation etc...
Quote:
Originally Posted by yankee
(Post 652893)
you have a 200 item 20K law in AU?
| No we do not.
OP is confusing US business practices with Australian ones. |
| yankee | 03-22-2015 06:29 PM |
Re: Business, enterprise, corporation etc...
Quote:
Originally Posted by GreenBean
(Post 652897)
No we do not.
OP is confusing US business practices with Australian ones.
| Thank you.
That is what I thought. |
| yankee | 03-22-2015 06:30 PM |
Re: Business, enterprise, corporation etc...
Quote:
Originally Posted by Klemantina
(Post 652896)
99% sure we do, i'm about to hit 150 sales on many accounts and i got hit with the 50 transaction limit on couple of accounts with amazon so i'm trying to figure what to do now because i dont have many tax id's...
| Amazon typically has a 50 item limit before requesting tax info. They make up rules instead of following local laws and regulations. |
| bananaappeal | 03-22-2015 06:34 PM |
Re: Business, enterprise, corporation etc...
Think he's referring to PayPal/Ebay forwarding stealth account information to the ATO once he reaches 20k in transactions. |
| Klemantina | 03-22-2015 07:20 PM |
Re: Business, enterprise, corporation etc...
Yeah i mean the 20k ATO and amazon tax problem, i'm not planning to avoid paying taxes i'm just trying to understand how to pass the paypal/amazon limitations, any help? |
| Klemantina | 03-22-2015 09:20 PM |
Re: Business, enterprise, corporation etc...
In US you use a company to create many EIN's or something like that but here i'm not sure it's possible and how much it worth... I know there are at least 3 people on this forum who know how to deal with this problem so i'm trying my luck here before i'm bothering my accountant which probably not an expert in this area.
Please, any help will be very appreciated. |
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