Website revenue - incorporate in HK?

Discussion in 'Business Accounting, Tax & Legal' started by Glebe, 24th Jan, 2012.

Join Australia's most dynamic and respected property investment community
  1. Glebe

    Glebe Well-Known Member

    Joined:
    29th Sep, 2019
    Posts:
    819
    Location:
    Central Coast NSW
    Hi there,

    I own a few websites that make beer money, but I'm hoping to ramp it up with a goal of achieving big money from them.

    Any problem with the ATO if I incorporate a company and create a bank account in HK which I would own and would pay 0% tax, which Google Adsense and various commission affiliates pay into?

    Thanks,

    Glebe.
     
    Glebe, 24th Jan, 2012
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,001
    Location:
    Australia wide
    No problems with the ATO as long as you declare it in Australia.
     
    Terry_w, 25th Jan, 2012
    #2
  3. tax guy

    tax guy Member

    Joined:
    1st Jul, 2015
    Posts:
    14
    Location:
    Sydnye, NSW
    When you say "incorporate a company" are you talking about incorporating a company in HK. Now assuming you are operating the HK company whilst residing in Australia, this is one of the worst things you can do. The company would likely be subject to additional ASIC requirements and the effective tax rate could potentially be as high as 67.45%
     
    tax guy, 1st Feb, 2012
    #3