> Businesses are not required to register for GST until they have a  
> turnover of $50K (or something like that - I'm not an accountant)

> An individual would own a .id.au
> If you sell your personal car for more than $50K you wouldn't have to  
> pay GST.
> It would be the same.

> Only a business can own a .com.au.
> If the business does more than $50K, or if the sale of a mega domain  
> pushes them over, then they will have to register for GST etc etc

Yeah I agree.
That makes sense. Cool thanks.

So if I am selling my business and I am not registered for GST, 
I say including domain name worth $1000 (by independent valuation)

and if I am selling my business and I am registered for GST,
I say including domain name worth $1000 (by independent valuation) + $100
GST
And I need to give them a tax receipt by law I think.

> My question for my accountant this year, now that we are able to sell  
> our .au domains, is are they now a capital expense?!? I've treated  
> them the same as office rent up till now.

I understand these people/businesses that have registered heaps of domains
they become like stock.
But for your average Jo that gets offered or wants to sell or buy a domain
name in aftermarket I'm unsure how GST applies. I'm no accountant I'd just
like a explanation.

What is something it can be compared to in a business assets/inventory that
goes up in value from retail and has GST applied to it?

Maybe paintings/comic books/trading cards/antiques I suppose.

Are there any accountants reading this topic?

Sorry for harping on.......

Jason Parsons


-----Original Message-----
From: dns-bounces+jason=coastbeaches.com§dotau.org
[mailto:dns-bounces+jason=coastbeaches.com§dotau.org] On Behalf Of Lea de
Groot
Sent: Tuesday, 30 September 2008 9:49 PM
To: .au DNS Discussion List
Subject: Re: [DNS] gst on au domain name resales


On 30/09/2008, at 7:30 PM, Jon Lawrence wrote:

> what if the domain is being resold by an individual that's not  
> registered for GST?


Businesses are not required to register for GST until they have a  
turnover of $50K (or something like that - I'm not an accountant)

An individual would own a .id.au
If you sell your personal car for more than $50K you wouldn't have to  
pay GST.
It would be the same.

Only a business can own a .com.au.
If the business does more than $50K, or if the sale of a mega domain  
pushes them over, then they will have to register for GST etc etc

I don't know how GST applies to Incorporated groups (.org.au)

As for selling a business - how is owning plant or equipment affected  
by GST? A domain name is just a business asset like any other.

My question for my accountant this year, now that we are able to sell  
our .au domains, is are they now a capital expense?!? I've treated  
them the same as office rent up till now.

Lea
-- 
Lea de Groot
Elysian Systems
Brisbane, .au




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