Well, I'm a little lost here and I'm just filled with questions. I'll try my best to keep some order to this.
-When do I have to legally have to register a business; before I even start trading or is there a cash limit before it must be registered?
-What taxes should I expect to find?
-What taxes should I charge?
Should I basically just slap a 10% GST on anything that moves to safeguard myself?
-Am I allowed to keep any stock for myself that I buy wholesale provided I pay the taxes?
-If I buy things at retail places and resell them (online discount stores come to mind) what kinds of taxes should I still pay?
-Is the 30% tax rate applicable to all businesses regardless of turnover?
(is that charged on gross or net turnover?)
-Am I legally obliged to pay myself a wage?
-What is some of the essential reading on tax law that I will have to catch up on?
Customs (Little unsure if I should still leave this one here, but thought I might as well keep it together):
-What are customs duties/rates like?
-How long can I expect my goods to be held by customs?
-Has anyone had any problems with customs in general aside from goods being held for way too long?
And seeing as this post is already too longwinded, I'll wind it up here, but with just one more question. Is it a basic necessity that you will have to learn mandarin and possibly cantonese, or can you get by with just speaking english if you plan to import?
Probally stepping out of line by asking so much here, but, this really is a daunting subject and task to behold. I really think this could be a good venture for me if I can make a go of it, but I'm a little hesitant to jump right in as if there's one thing I dont want its the ATO and other authorities jumping on my back.
Its a bit slack, but if I can reduce the learning curve, well... I might as well give it a punt and hope the community of Salehoo can help me out. :)