GST issue on netfleet Aftermarket Auction

[highnfar]

Just sold a name on netfleet aftermarket auction, thanks netfleet!

Do you guys think if the auction price is gst inclusive or exclusive? Thanks.

 

[Shaun]

My understanding is that anything sold on NF is GST inclusive.

 

[Honan]

A curly one for sure
Until recently the FAQ on netfleet said that everything included GST
Then that FAQ was removed because the netfleet expired domain auctions started to exclude GST and the tax was added to the price on the invoice
The price of submitting a domain to the the aftermarket auctions also has GST added on the invoice
I personally think it is fair to presume that GST is included on the aftermarket auctions
However it does appear inconsistent
Also does that mean if a sale is made to someone who resides outside of Australia, that they should get a discount?
And many sellers may not be registered for GST, either because they are part timers , or their turnover is less than $85k or whatever the current limit is

 

[coreyg]

^ it's $75,000 or more

check out Guide to GST @ ato http://www.ato.gov.au/businesses/content.asp?doc=/content/00221985.htm

Cheers
Corey

 

[DavidL]

Just sold a name on netfleet aftermarket auction, thanks netfleet!

Do you guys think if the auction price is gst inclusive or exclusive? Thanks.

Congratulations! And yes GST is included.

A curly one for sure
Until recently the FAQ on netfleet said that everything included GST
Then that FAQ was removed because the netfleet expired domain auctions started to exclude GST and the tax was added to the price on the invoice

Yeah we sent an email about that last month. We changed the GST for Snapper auctions because both Drop & Domainwatch's platforms both exclude GST so we wanted to make our platform consistent with the others.

With the aftermarket auctions, we state that GST is included (again, same as Drop do in their aftermarket auctions).

Also does that mean if a sale is made to someone who resides outside of Australia, that they should get a discount?
And many sellers may not be registered for GST, either because they are part timers , or their turnover is less than $85k or whatever the current limit is

Hmm - not too sure about that. What do you think? Anyone know what Ebay do with this issue?

 

[coreyg]

is netfleet registered for GST?

Cheers
Corey

 

[snoopy]

How does it work GST wise, is the seller the one physically paying the GST?

 

[coreyg]

Guide to GST Definitions @ http://www.ato.gov.au/businesses/content.asp?doc=/content/00221985.htm&page=36#P1005_65050

Cheers
Corey

 

[Honan]

with the others.

With the aftermarket auctions, we state that GST is included (again, same as Drop do in their aftermarket auctions).

I cannot find that statement
Do you have a URL for that?

 

[ant]

With the aftermarket auctions, we state that GST is included (again, same as Drop do in their aftermarket auctions).

At Drop.com.au BOTH the Expired Domain Auctions and Secondary Market Auctions use the same rule (lot prices EXCLUDE GST).

"All lot prices displayed exclude Domain Registration/Change of Registrant Fee, exclude GST, and are in Australian Dollars ($AUD)."

 

[Honan]

At Drop.com.au BOTH the Expired Domain Auctions and Secondary Market Auctions use the same rule (lot prices EXCLUDE GST).

"All lot prices displayed exclude Domain Registration/Change of Registrant Fee, exclude GST, and are in Australian Dollars ($AUD)."

Yes, although it is a pity drop.com.au does not have any Secondary Market Auctions

 

[DavidL]

I cannot find that statement
Do you have a URL for that?

No I can't either actually. Thanks for spot - I'll get Mark to make it clearer/add the statement.

At Drop.com.au BOTH the Expired Domain Auctions and Secondary Market Auctions use the same rule (lot prices EXCLUDE GST).

"All lot prices displayed exclude Domain Registration/Change of Registrant Fee, exclude GST, and are in Australian Dollars ($AUD)."

Oh sorry - my mistake. Has it always been that way?

Maybe we should do that - no GST included ever regardless of whether it's Snapper auctions, aftermarket auctions etc.

I guess the thinking was because eBay, grays online etc all include GST then we should do too. We can change it easy enough so can I ask what do you guys reckon is the least confusing?

 

[Honan]

I think that the Drop aftermarket added GST because the payments went through drop
Difficult to remember because it is about 3 months since drop had an aftermarket
It is different if the payments are to indviduals
The final price would then vary according to what type of seller ( registered for GST or not registered for GST )
Therefore the prices must be GST inclusive to allow individuals to send a GST invoice or not

And here is my Christams present to domainers:
If you are a domainer and selling to people overseas then you will probably make a profit on GST because you will pay GST on all your needs and not collect on sales to OS
Result: nice refund