Getting GST ducks lined up - consignment sales
I will of course talk specifics with my accountant, but I don’t even know what I don’t know, yet, hoping you will have some ideas!
I’m planning to open a bricks and mortar shop, part of the model is based around local makers selling their products through the shop for a commission.
The shop is GST registered, but I can figure out how that interacts with maker sales.
Regular stock, the sale price on the ticket includes GST
A makers’ product, the sale price should? Should not? Include GST (or is that dependent on whether the maker is GSTregistered ?)
What about the commission?
I cannot even!