Webinar | Selling into Australia | Vantage Accounting & Brisca Global
Navigating Australian Taxation for New Zealand Businesses: Key Insights from Our Recent Webinar
Expanding into a new market presents both exciting opportunities and unique challenges. For New Zealand businesses eyeing the Australian market, understanding the intricacies of Australian taxation can be crucial to smooth operations and market success. In our recent webinar, sponsored by Brisa New Zealand, we delved into the essential aspects of selling into Australia, focusing on taxation. Here’s a comprehensive recap for those who couldn’t attend or want a quick refresher.
As businesses continue to grow globally, many find themselves attracted to the opportunities across the Tasman Sea. Our webinar, "Selling Into Australia: Mastering Australian Taxation for New Zealand Businesses," aimed to address the key concerns faced by businesses during this expansion process. Hosted by Sumith, CEO of Brisca Global, we were joined by Michael Messner from Vantage Accounting, an expert in international taxation with specialized knowledge in Australian and New Zealand markets.
Key Points Discussed
Understanding Market Dynamics
Michael highlighted the special bond shared between New Zealand and Australia, noting the increased cross-border activities post-COVID. He emphasized the importance of businesses making informed decisions before operational changes, as premature actions can lead to complications.
Selling into Australia: What You Need to Know
1. Regulatory Hurdles: There are several approvals required for specific imports into Australia, such as motor vehicles, yachts, and animals. It’s vital for businesses to navigate these restrictions properly, often with the help of customs agents or freight brokers for efficient logistics.
2. Intangibles and Services: When providing services from New Zealand into Australia, entities like ASIC or APRA might require additional licenses, especially in sectors like financial services, telecommunications, or healthcare.
3. Understanding Consumer Law: Michael stressed the importance of aligning with Australian consumer laws, which are strongly pro-consumer. This includes ensuring goods are of acceptable quality and that services meet promised standards.
Taxation Essentials
1. GST Registration: For businesses exceeding turnover thresholds of $75,000 AUD in Australia, GST registration is mandatory. Michael also highlighted nuances between GST-free supplies (like certain food items and health services) and input-tax supplies.
2. Tariffs and Import Duty: While a standard import duty of 5% applies to most goods, Australia’s Free Trade Agreement with New Zealand means many goods are duty-free when imported.
3. Using Electronic Distribution Platforms (EDPs): For businesses selling low-value items through platforms like Amazon or Shopify, Australian GST is often handled by the platform, simplifying compliance for sellers.
Proactive Steps for New Zealand Businesses
For New Zealand businesses looking to expand, understanding these aspects of Australian taxation is a critical component of strategic planning. Engaging with proper legal and accounting advice can save time, reduce costs, and minimize risks associated with compliance.
We’re looking forward to
The webinar series doesn't end here. We'll soon host another session focusing on more advanced topics, such as setting up operations and the implication on income taxes for businesses with dual jurisdictions. Stay tuned for announcements on LinkedIn and EventBrite for the next installment in our series.
Navigating the complexities of international expansion requires careful planning and informed decision-making. With the right guidance, New Zealand businesses can successfully leverage opportunities within the Australian market. For further inquiries or personalized advice, feel free to contact Brisca Global or Vantage Accounting directly.
For those that were unable to attend that day, we've another Wednesday, 14 May @ 1pm NZ time where Michael takes us through – Things are getting serious – I have Staff in Australia.
Join us in our upcoming webinars for more insights and practical advice tailored to your business needs.
Follow and Register on EventBrite New Zealand to secure your spot in our upcoming webinars and gain the competitive edge your business needs to thrive.
Видео Webinar | Selling into Australia | Vantage Accounting & Brisca Global канала Brisca Global Insights | Conversations that Matter
Expanding into a new market presents both exciting opportunities and unique challenges. For New Zealand businesses eyeing the Australian market, understanding the intricacies of Australian taxation can be crucial to smooth operations and market success. In our recent webinar, sponsored by Brisa New Zealand, we delved into the essential aspects of selling into Australia, focusing on taxation. Here’s a comprehensive recap for those who couldn’t attend or want a quick refresher.
As businesses continue to grow globally, many find themselves attracted to the opportunities across the Tasman Sea. Our webinar, "Selling Into Australia: Mastering Australian Taxation for New Zealand Businesses," aimed to address the key concerns faced by businesses during this expansion process. Hosted by Sumith, CEO of Brisca Global, we were joined by Michael Messner from Vantage Accounting, an expert in international taxation with specialized knowledge in Australian and New Zealand markets.
Key Points Discussed
Understanding Market Dynamics
Michael highlighted the special bond shared between New Zealand and Australia, noting the increased cross-border activities post-COVID. He emphasized the importance of businesses making informed decisions before operational changes, as premature actions can lead to complications.
Selling into Australia: What You Need to Know
1. Regulatory Hurdles: There are several approvals required for specific imports into Australia, such as motor vehicles, yachts, and animals. It’s vital for businesses to navigate these restrictions properly, often with the help of customs agents or freight brokers for efficient logistics.
2. Intangibles and Services: When providing services from New Zealand into Australia, entities like ASIC or APRA might require additional licenses, especially in sectors like financial services, telecommunications, or healthcare.
3. Understanding Consumer Law: Michael stressed the importance of aligning with Australian consumer laws, which are strongly pro-consumer. This includes ensuring goods are of acceptable quality and that services meet promised standards.
Taxation Essentials
1. GST Registration: For businesses exceeding turnover thresholds of $75,000 AUD in Australia, GST registration is mandatory. Michael also highlighted nuances between GST-free supplies (like certain food items and health services) and input-tax supplies.
2. Tariffs and Import Duty: While a standard import duty of 5% applies to most goods, Australia’s Free Trade Agreement with New Zealand means many goods are duty-free when imported.
3. Using Electronic Distribution Platforms (EDPs): For businesses selling low-value items through platforms like Amazon or Shopify, Australian GST is often handled by the platform, simplifying compliance for sellers.
Proactive Steps for New Zealand Businesses
For New Zealand businesses looking to expand, understanding these aspects of Australian taxation is a critical component of strategic planning. Engaging with proper legal and accounting advice can save time, reduce costs, and minimize risks associated with compliance.
We’re looking forward to
The webinar series doesn't end here. We'll soon host another session focusing on more advanced topics, such as setting up operations and the implication on income taxes for businesses with dual jurisdictions. Stay tuned for announcements on LinkedIn and EventBrite for the next installment in our series.
Navigating the complexities of international expansion requires careful planning and informed decision-making. With the right guidance, New Zealand businesses can successfully leverage opportunities within the Australian market. For further inquiries or personalized advice, feel free to contact Brisca Global or Vantage Accounting directly.
For those that were unable to attend that day, we've another Wednesday, 14 May @ 1pm NZ time where Michael takes us through – Things are getting serious – I have Staff in Australia.
Join us in our upcoming webinars for more insights and practical advice tailored to your business needs.
Follow and Register on EventBrite New Zealand to secure your spot in our upcoming webinars and gain the competitive edge your business needs to thrive.
Видео Webinar | Selling into Australia | Vantage Accounting & Brisca Global канала Brisca Global Insights | Conversations that Matter
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