If you are looking to setup a direct selling / MLM business then generally we suggest the following:
We generally recommend registering and trading through a local Australia company because it enables you to establish a local business presence while also helping to stop other businesses from using your business name. Furthermore, if you want to get Therapeutic Goods Registration (TGA) then you will need a local company anyway.
The Australian company will need to have a local Australian director, public officer and a registered office address. Our firm can provide these services while we setup the company and get ready to start trading.
Generally an Australian Direct Selling / MLM company with a foreign shareholder needs to be audited and submit its financial statements to the Australian Securities and Investment Commission (ASIC). However, there are a number of options available within the first three months for the Australian company to elect not to be audited. Applying for audit relief can save business a fortune in audit fees.
No Australian Business Number (ABN) Withholding
If your Independent Salespeople do not have an ABN and the total payment for goods and services is more than $75 (excluding GST) you:
However, our firm is able to get an exemption from the 49% withholding tax where Independent Salespeople’s commission is less than $10,000 per year.
Please contact our office for further information.
Are you looking for a Lake Maquarie Accountant who is a local, personable and who understands business and personal taxation matters?
Kirk Davis Accounting is now providing accounting, taxation and business advisory services in Dora Creek, Lake Maquarie. This is in additional to our commercial offices in Sydney and Newcastle.
If you need help with year end tax planning, of if your starting a business or if you have any general accounting, tax or GST queries please contact us and we can come to you for a free no obligation meeting.
Our local branch office is on Dora Street, Dora Creek. Phone 0412 776 647