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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I'am starting up a company in Australia, that will be set up

Customer Question

I'am starting up a company in Australia, that will be set up in Asia also. I plan on selling products around Asia. What are things I should consider as I plan not to be turning over any money in Australia and have all transactions taking place in Asia. Being an Australian company is purely convince for myself to run the business in Australia and marketing to brand our company as Australian.
Submitted: 1 year ago.
Category: Australia Law
Expert:  Brisbane.Lawyer replied 1 year ago.
If you are an Australian resident for tax purposes.. any income you earn worldwide in subject to Australian tax. If you setup companies, this is different... as they pay their own tax... but if you collect dividends or profits personally from the companies this income would be taxable in Australia. What are you going to do with your costs of running your Australian company.. if there is no income.. there is nothing to offset your operating and marketing costs against as tax deductions... Are you going to register for GST? will any sales be made in Australia? Is there a misrepresentation to the customer by marketing the company as Australian, but selling to them from an overseas company? what will the invoice say? Which country in Asia will you base your foreign company in? The above is just to get the ball rolling... Kind regards, James