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How to update your ABN or GST status

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In July, 2017 there was a change to GST legislation in Australia. This change requires that GST be collected on all international online services and products that are sold to Australian consumers. This includes subscription services like Timely. 


If you are based in Australia, then you may also be required to pay GST (10%) on your Timely subscription invoices. However, if your business is GST registered, then you could be eligible for an exemption. In this article, you will learn how to update your ABN or GST status. For information on adding this information, see our help guide How to add your ABN or GST status in Timely.
 

 

Important note: it is the business owner's responsibility to be truthful about GST registration for the purposes of tax exemption. The ATO places full responsibility on you the business owner to communicate this truthfully. Timely is not accountable for any misinformation, or information given under false pretences.

 

 

Timely notes:

  • This is effective from the 15th of January, 2018.
     
  • If you are registered to pay GST, you are treated as a business entity and will not be required to pay tax on your Timely subscription.
     
  • If you are not registered for GST, then you are treated as a consumer and will be required to pay tax on your Timely subscription.
     
  • As no GST is collected, businesses that are registered to pay GST in Australia, will not be able to claim tax credits for their Timely subscription and associated payments.

 

 

How to update your ABN or GST status

1 Head to account from the main menu in your Timely account dashboard, and click on billing.

 

2 In the GST section, click apply for exemption.

 

3 In the pop-up, check the box next to my business is registered for GST with the Australian Tax Office (ATO) if you are GST registered.

 

4 Enter your ABN number in the field provided. If you are not registered, but still have an ABN, you can add this here.

 

5 When you are ready, click save to apply your changes.

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