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TAX INFORMATION
The GST & Your Independent Business www.amway.com.au
AN UPDATE FOR AMWAY INDEPENDENT BUSINESS OWNERS Amway’s underlying objective in dealing with the GST Accounting Structure is to ensure compliance, minimise the business impact of taxable transactions and, as far as possible, to use company-generated documentation to facilitate GST management and accountability by Independent Business Owners. The key elements of the GST accounting structure under the Amway Business Model are: •
IBOs are independent buyers and resellers of goods. IBOs purchase product from Amway at wholesale price plus GST and on-sell the product at retail price plus GST. IBOs have title to goods acquired from Amway.
•
Amway, and those IBOs (both Platinum and downline) who are “in business”1 and registered for GST will be the entities which will account for GST. Accordingly, those IBOs who qualify as being “in business” should:
•
Apply for an ABN
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Register for GST
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Advise Amway of their ABN / GST registration details when they are received from the Australian Taxation Office as follows: •
Select the ABN option
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Follow the prompt, OR
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Alter your personal details on amway.com.au by selecting the “My Business details” icon.
Withholding Tax: Pay-As-You-Go (PAYG). •
Holders of an ABN will not be subject to PAYG Withholding.
•
IBOs who are “not in business” (by virtue of them being at less than the 6% performance bonus level) will not be subject to PAYG Withholding.
•
Those IBOs who transition from “not in business” to “in business”, by virtue of them being at a minimum of the 6% performance bonus level for 6 months in a fiscal year will avoid PAYG Withholding if they apply for an ABN, register for GST and advise Amway of their changed status.
Under its business model Amway will only sell (by wholesale) to a GST registered IBO. If Amway delivers product to an IBO “not in business”, or a Client, it will raise a tax invoice on behalf of the upline GST registered IBO. It is the GST registered IBO which will make the taxable supplies to its group.
Amway will, either in its own right, or on behalf of the relevant GST registered IBO, raise the required Tax Invoice for each taxable supply made under its business model. Sales to Clients which are made directly by a GST registered IBO rather than through Amway must be invoiced directly by the IBO.
On a monthly basis, Amway will provide the necessary information to each GST registered IBO, to enable that entity to account for GST on both sales of goods and services made by it to its group2 and bonus payments received from Amway. Information provided to IBOs who are “not in business” will assist them to evaluate: •
Whether or not under the Administrative Position agreed between the Direct Selling Industry and the Australian Tax Office he or she is now in business, and
•
Whether, as a consequence they should apply for an Australian Business Number (“ABN”) and GST registration.
1. Those IBOs at the six percent and above bonus level who satisfy the requirements of the “Administrative Position” for income tax purposes. 2. For this purpose “group” means: downline IBOs who are “not in business”; the IBO’s own Clients; the Clients of downline IBOs who are “not in business”.
