ABN REQUIREMENTS FOR TAXATION PURPOSES Sample Clauses

ABN REQUIREMENTS FOR TAXATION PURPOSES. Australian Local Affiliates must provide NFT Artist Management with a correct ABN in order to receive remuneration for any commissions payable on referrals in order to avoid unnecesary scrutiny throughout the processes involved in our Australian Tax Office reporting obligations. Creating an ABN is free for sole traders, and is easy to do. Creating an ABN should be done at the correct Australian Government website (xxxxx://xxx.xxx.xxx.xx/xxxxxxxx-xxxxx-xxxxx-xxxxxxxxx/xxxxxxxx-xxx). Do not register an ABN with any external companies pages outside of the Australian Government, as this could potentially be a scam, which may result in your personal information being used against you by scammers for monetary gain. NFT Artist Management are able to provide basic assistance with registering an ABN with the Australian Government site at no cost, however, if you require the entire process explained comprehensively by one of our specialists, we charge a fee of 500 PPTLs to your account. Commissions to be paid to Affiliates based overseas will require an invoice to be provided to NFT Artist Management, where the Affiliate is responsible for their own taxation, and the declaration of taxable income to the relevant regulatory authorities. Invoices will be generated on behalf of the Overseas Affiliate, and will be uploaded to the membership portal, or emailed within a monthly statement. In signing this Agreement, Overseas Affiliates waive NFT Artist Management’s liability in notifying the appropriate taxation bodies in the overseas jurisdiction. Where an Overseas Affiliate has not signed this Agreement, NFT Artist Management will not provide any kind of reimbursement or remuneration to the Overseas Affiliate. Where an Overseas Affiliate uses an e-Wallet to transact with NFT Artist Management, using commissions paid by NFT Artist Management, NFT Artist Management and/or any of our affiliated companies, a statement of these transactions will be provided to the Overseas Affiliate, in order to keep record of their earnings, and to maintain our tax reporting obligations. All amounts paid by us to Overseas Affiliates will be reported under our legal obligations to the Australian Taxation Office (ATO) for our tax purposes.
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