Clients often ask: “Do I need to register for GST?”
You must register for GST:
➡️ when your business or enterprise has a GST turnover of $75,000 or more
➡️ when you start a new business and expect your turnover to reach the GST threshold in the first year of operation
➡️ if you’re already in business and have reached the GST threshold
➡️ if your non-profit organisation has a GST turnover of $150,000 per year or more
➡️ when you provide taxi or limousine travel for passengers (including ride-sourcing) regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi
If you are not registered for GST, check each month to see if you’ve reached the threshold, or are likely to exceed it.
You need to register within 21 days of your GST turnover exceeding the relevant threshold.
If you need any assistance with your tax, please don’t hesitate to reach out to ARA!