Managing director of Etsy Australia and Asia, Helen Souness, recently spoke to Internet Retailing about how Etsy is empowering female entrepreneurs around the world. She spoke about the importance of artificial intelligence, empowering female entrepreneurs and Etsy’s growth in Asia. Listed below are some of her key takeaways. If you’re interested in starting a business on Etsy, you’ll want to read this interview!
Business structure
In order to register for an Etsy shop in Australia, you must choose a business structure. There are three basic business structures to choose from: sole trader, partnered business, and registered company. Sole traders can use their own names. Businesses that operate as a company must register with ASIC and comply with certain laws. While each business structure has its own benefits, there are some disadvantages. Read on to understand the differences between these structures.
Before you open your shop on Etsy Australia, you should consider the tax implications. You cannot claim tax deductions for expenses incurred on Etsy Australia. This is a business, and you must meet tax obligations accordingly. You need to keep records, pay income tax, and register for GST. You may also want to get an ABN. Regardless of the structure you choose, it’s important to have a comprehensive strategy.
In addition to setting up a business structure, you’ll need to pay taxes if you plan on earning more than $75k a year. The Australian Taxation Office can help you with this. If you’re unsure, you can also seek advice from other Etsy shop owners. If you’re selling products outside of Australia, you’ll need to get an Australian Business Number (ABN). This number is required to order items across country borders.
When starting an Etsy store, you should consider whether to operate it as a full-scale enterprise or a hobby. If you’re not planning to earn more than $75,000 per year, you don’t need to register for an ABN. However, if you’re making more than $75,000 in revenue per year, you should register for GST with the Australian Taxation Office. Alternatively, you can set up an online shop without registering for GST.
Fees
When it comes to Etsy Australia fees, there are a couple of things to keep in mind. These fees are standard for both local and international orders and are deducted automatically when an item is sold. The fees vary depending on the amount of money you sell. Additionally, Etsy charges a 2.5% currency conversion fee on the total amount of sales. In addition, you will also be charged 15% if you want to place an offsite ad (depending on your annual sales).
If you are selling products in Australia, you will have to pay taxes on the goods and services you sell. Depending on how much you earn, you will be charged an income tax, Goods and Services Tax (GST), or VAT. You will also need to pay protection for intellectual property, such as patents, copyrights, and trademarks. Visit IP Australia or the Australian Copyright Council to learn more. There is also a fee for listing an item on eBay. You will be charged AU$0.28 per listing, and it will stay live for four months.
Another fee that sellers must pay on Etsy is the Regulatory Operating Fee. This fee varies depending on your location. Etsy lists different fees for different countries, and sellers should check the list before listing a product. You can avoid the Currency Conversion Fee by listing your products in the same currency as your payment account. This fee can be as high as 14% of the total price, and it can add up fast.
To keep your shop profitable and in good standing with Etsy, you must understand Etsy fees. Using a calculator is a great way to estimate the fees for specific sales. All you need to do is input your selling price and shipping charge to receive an accurate estimate. By calculating these fees, you can estimate the profit you’ll make on each sale. Once you understand your Etsy fees, you will know what to expect with your online store.
Getting an ABN
If you have an Etsy shop in Australia, it is very important to get an ABN for it. While you may not be required to get an ABN, you should still consider registering it as a business. This will allow you to claim GST and pay tax in Australia. As an Australian resident, you must register your business with ASIC. This is not necessary if your Etsy shop is only a hobby.
You can sell a wide range of goods on Etsy Australia. If you are selling personal goods, you should register copyright. Copyright is anything that belongs to a creator. This includes logos, designs, and even brand names. In Australia, you do not have to register copyright, but you should. If your content violates your IP policy, you can have it removed from the website.
It is important to note that sole proprietorships do not qualify for an ABN, but businesses that sell goods and services can request one. In addition to registering for a business entity, you should register for sales tax. This will allow you to claim tax deductions on your supplies. It is also important to make sure that your Etsy store is registered with your ABN so you will be able to claim your business income in your tax return.
You should consider registering for an Australian business number (ABN). You need an ABN if you make a profit on Etsy. However, if you don’t earn money from Etsy, you do not need an ABN if you’re just running a personal Etsy store. If your business is expected to generate revenue of $75,000 or more, you’ll need an ABN.
Affiliate links
If you are planning to promote your business on Etsy Australia, you will need to know how to use your affiliate links. Luckily, there are several ways to do this. First, you can embed banners in your website. Browse the advertising section and choose one that suits the theme of your website. This will increase the chances of your website being viewed and, subsequently, sales. You will earn 2% of each sale.
You can also use the Convert-a-Link tool to add Etsy affiliate links to your blog. This tool will turn your advertisements into affiliate links on your blog. After adding the code to your website, you’ll need to upload javascript to your website. Once done, you will see a new section in your blog with your affiliate links. Alternatively, you can paste a copy of your affiliate link code into your website to begin earning.
You can also embed banners from Etsy to promote your business. Just make sure to follow their guidelines on social media. For example, you cannot post an affiliate link in a private group. Also, you can’t post affiliate links in social media groups without proper disclosure. Also, be aware that some groups may ban affiliates who don’t comply with their disclosure requirements. You can avoid these problems by placing your affiliate links in other places on the Internet.
Besides using affiliate links, you can also post collages of your products in a lifestyle setting. Use the social media tools to build strong brand identity. Use the same branding elements on your Facebook, Twitter, and Instagram accounts to create a unified brand identity. Create a consistent tone of voice when discussing your products. Promote your affiliate links on social media and you’ll soon see some serious profits. If you’re planning to promote your Etsy Australia store through affiliate links, make sure to take full advantage of social media.
Tax obligations
As an Etsy seller, you must pay income tax on your revenue from the site. If your revenue is greater than $75k, you must register as a business and pay the appropriate tax. Depending on your business’s nature, you can run an Etsy store as a hobby or as an online business. You do not need to register an ABN if your store only makes a few dollars a day. However, if you generate more than $75,000 a year in revenue, you should consider registering as a company with the Australian Securities and Investments Commission (ASIC).
Choosing the right business structure is essential, and there are a few considerations that should be made before getting started. You may choose to run an Etsy store as a hobby, or as a fully-fledged business. Regardless of the structure of your business, you will need to comply with the Australian Consumer Law (ACL). You must adhere to fair trading practices and ensure you follow the ACL. Ensure you have all the proper business documents, and consider consulting a business lawyer before launching your business.
Some states require Etsy sellers to collect sales tax. Depending on your location, the rules vary, but in general, you will need to charge sales tax if your items are shipped outside of your state. You can also download a CSV file from your Etsy sales to track your sales tax. By doing so, you will know how much you need to charge and when to collect sales tax. If you’re in a state that requires sellers to collect sales tax, you will have to file a tax return if you sell items that fall into that state.
