What is GST?
The Goods and Service Tax (GST) is a consumer-based tax of 10% placed on the cost of most goods, services and items sold or used in Australia. Businesses must include GST on their prices. A business is responsible for collecting GST for the government, which they declare in their BAS statements.
Do I need to register for GST?
You only need to register for GST if:
- Your business has a GST turnover of $75,000 or more per year.
- Your non-profit organisation has a turnover of $150,000 per year or more.
- You provide taxi travel in exchange for a fare.
You can of course voluntarily register your ABN for GST when earning under the threshold.
You can learn more about GST here
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