Sunshine Coast Region, Queensland
Business Accountant in Kunda Park
Import GST on the BAS instead of at the border, and exports that leave GST-free
GST, BAS and business tax for Kunda Park manufacturers, wholesalers and distributors, from a CPA practice.
Kunda Park is industrial land 5.0 km north-west of Buderim. Other than a conservation park on Eudlo Creek and a small grazed area, the whole suburb is industrial, and the 2021 census found just 22 residents. Businesses that bring goods in from overseas or send them out deal with GST rules that a business selling locally never meets.
The estate
Kunda Park in brief.
Locals once called the area Crete. On 1 May 1975 the Queensland Place Names Board gave the township its name, from gunda or konda, a Kabi word for the cabbage tree palm. Its northern edge is Eudlo Creek, which flows into the South Maroochy River.
Importers and exporters: three GST questions
Paying import GST through the BAS
Why it happens
A business imports materials, parts or stock, and GST falls due when the goods clear customs.
Why it matters
Under the deferred GST scheme, an approved importer pays the GST on taxable imports through its monthly BAS instead of at the border. The deferred amount goes at label 7A and is generally claimed as a credit at 1B on the same BAS.
How we help
The goal is to keep your affairs in order with minimal disruption to your day to day operations.
The conditions for deferral
Why it happens
A business that lodges quarterly wants to defer its import GST.
Why it matters
To be approved, the business needs an ABN and GST registration, must lodge its BAS monthly and online and pay electronically, and must be up to date with its returns and payments. A quarterly lodger has to move to monthly lodgement first.
How we help
The focus is on clarity so you can make an informed decision. Weigh the cash flow benefit against the extra BAS each year.
Exports that leave GST-free
Why it happens
A business sells goods to an overseas customer and ships them out of Australia.
Why it matters
Exported goods are GST-free if they leave Australia within 60 days of the earlier of receiving payment or issuing the invoice; for instalments, the clock runs from the final instalment. The business must hold documents that would let an independent party conclude the goods were exported, such as bills of lading, waybills, consignment notes, invoices and proof of payment. The 60-day period can be extended on application.
How we help
At Lomandra Accounting, we don't just crunch numbers. File the shipping documents with each export invoice.
Frequently asked questions
What is the deferred GST scheme?
A scheme that lets approved importers pay GST on imports through their monthly BAS, where it is generally offset by a matching credit, instead of paying it at the border.
Do I charge GST on goods exported from Kunda Park?
Not if the goods leave Australia within 60 days of the earlier of payment or invoice and you hold the export documents.
What proof of export do I need?
Documents an independent party could rely on, such as a bill of lading or air waybill, a consignment note, the invoice and evidence of payment.
Where to next
Have a question?
Before the next shipment
Partnership approach: We see ourselves as part of your team, supporting you with proactive advice and clear communication every step of the way.
Lomandra Accounting is a CPA Practice, registered with the Tax Practitioners Board and an SMSF Specialist. Emma, the Director, is a Certified Practicing Accountant (CPA) with extensive experience in commercial business management, and specialises in Self-Managed Super Funds (SMSFs).
- 07 5234 9201
- admin@lomandraa.com.au
- Sunshine Coast, QLD
- Monday to Friday, 9am to 4:30pm