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How do taxes work on the TopMusicMarketplace?
How do taxes work on the TopMusicMarketplace?

Understanding GST and tax obligations in the marketplace

Tim Topham avatar
Written by Tim Topham
Updated over a week ago

As the TopMusicMarketplace is incorporated in Australia, it's only subject to the tax obligations of Australia, regardless of where sellers are located.

The GST is a 10% country-wide Goods and Services tax applied to any products/services sold to an Australian individual or company.

This means that the 10% GST tax is only applicable when an item in the marketplace is purchased by an Australian consumer. This is irrespective of where the seller is located and is irrespective of whether the product is a physical or digital item.

Top Music Education PTY LTD, the parent company for the TopMusicMarketplace, is an incorporated company based in Australia and is registered for GST.

For this reason, a 10% GST tax is automatically added during checkout when a buyer lists their address as being in Australia. This GST is collected by TopMusicMarketplace and submitted to the Australian Tax Office.

During the payout process, sellers will not see GST mentioned as it will have been collected and paid by the Marketplace.

Do sellers in Australia need to be registered for the GST?

Sellers do not need to be registered for the GST in Australia. If they are registered, it has no impact on their store setup.

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