top domain sales list needs to include gst

DomainNames · #1 26-01-11, 06:18 PM

Might be an idea to include gst in the dntrade and netfleet sales list results prices so people understand the real sales prices.

example

electricity sold for $30,933 + 10% gst right?

Drop.com.au · #2 26-01-11, 07:39 PM

David or Mark may want to clarify, but I believe the standard Netfleet listing sales (not aftermarket or expired) include GST already.

There was a thread about it here...

http://www.dntrade.com.au/gst-issue-...ion-t2132.html

But you are right though - I think GST inclusive and GST exclusive sales are getting reported together, which is not ideal...

Cheers

Andrew

DavidL · #3 26-01-11, 07:44 PM

Yes Andrew you are right. All figures include gst except the drops which we changed to be in line with the rest of the market.

I think we should probably change to exclude gst from all sales. What does everyone think?

Honan · #4 26-01-11, 10:41 PM

Quote:

Originally Posted by DavidL

Yes Andrew you are right. All figures include gst except the drops which we changed to be in line with the rest of the market.

I think we should probably change to exclude gst from all sales. What does everyone think?

Do you know how many aftermarket sellers are NOT registered with the ATO to charge GST or are not required to collect GST?
A fair number is my guess

Honan · #5 26-01-11, 10:50 PM

Why is it that drop auctions are able to add GST after the auction finishes anyway? Is it some legal loophole?
Other auction sites that I use, e.g. ebay, greys, etc always include GST in the bid price
I can't think of anywhere in Australia advertises a price that excludes GST

Shane · #6 27-01-11, 10:18 AM

Quote:

Originally Posted by Honan

Why is it that drop auctions are able to add GST after the auction finishes anyway? Is it some legal loophole?
Other auction sites that I use, e.g. ebay, greys, etc always include GST in the bid price
I can't think of anywhere in Australia advertises a price that excludes GST

In B2B sales many places list prices excluding GST. In my experience I would say most exclude it.

Ebay and Greys are aimed at the retail market, but given the requirements for registering an AU domain it's safe to say domain sales are aimed at the business market.

I'd vote for listing prices GST exclusive.

coreyg · #7 27-01-11, 10:21 AM

GST Requirements for Australian Businesses is at ATO website

Honan · #8 27-01-11, 10:29 AM

.....

Honan · #9 27-01-11, 10:32 AM

Quote:

Originally Posted by one

In B2B sales many places list prices excluding GST. In my experience I would say most exclude it.

Ebay and Greys are aimed at the retail market, but given the requirements for registering an AU domain it's safe to say domain sales are aimed at the business market.

I'd vote for listing prices GST exclusive.

Fair enough
I still do not know of any auction sites that exclude GST from bids, apart from drops

Not sure what you mean by listing?
Do you mean listing sold prices on dntrade?
Or do you mean bid prices on netfleet aftermarket?
The issue with bid prices on netfleet aftermarket is that some or even many sellers do not collect GST for various reasons

coreyg · #10 27-01-11, 11:00 AM

Guide to GST from ATO

Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.

More info @ http://www.ato.gov.au/businesses/con...t/00221985.htm

Cheers
Corey

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