GST and customs-old stamps and banknotes

Discussion in 'Banknotes' started by michaelkey, Aug 9, 2012.

  1. michaelkey

    michaelkey New Member

    Aug 9, 2012
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    I have company based in UK and we sell old stamps,coins and banknotes
    I bought a collection of New Zealand notes and stamps but as I didnt have many clients I decided to send it to Australia
    I contacted auction house in Melbourne and they told me to send it as registered letter without customs value and I did so (such material is quite light)
    Items already reached them and sales will be next year estimated value is $15,000
    I have question concerning GST-as I am selling as company (through agent) and sale is in Australia, will I be obliged to pay it to Aussie government?
    Normally I pay VAT when selling in UK, but my accountant said for this sales I dont pay VAT as it's in Australia
    But I should find out however if I need to pay tax sales in Australia
    I found info that there is VAT threshold in Australia for $75,000 AUD meaning if I sell in Australia for less amount I dont need to pay VAT- is that information correct?
    Does it also work for foreign companies and it's not a problem if sending from abroad
    Please reply if you're sure- I wanna make sure to be OK as I am worry maybe Australian tax office will contact me in few years and give me punishment for unpaid GST
    If you're unsure please let me know any place where I can get information concerning this issue like tax information line or email
    Have a nice day, thanks in advance!

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