You must register for GST if:
- Your business has a GST turnover of $75,000 or more
- Your non-profit organisation has a turnover of $150,000 per year or more
- You provide taxi travel for passengers in exchange for
a fare as part of your business, regardless of your GST
turnover. This rule applies to both taxi owner drivers
and people who just rent a taxi.
As a business owner, it's your responsibility to register for GST if your turnover exceeds the $75 000 threshold or is likely to exceed it.
The ATO advises that if you've just started a new business and expect it to earn $75 000 or more in its first year of operation, you should register for GST.
GST turnover is your business's gross income, not your business's profit.
If your business doesn't fit into one of the above categories, you don't have to register for GST.