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02. Goods and Services Tax (GST)

Goods and Services Tax (GST) is a tax of 10% on most goods, services and other items sold or consumed in Australia. If your business is registered for GST, you have to collect this extra money (one-eleventh of the sale price) when invoicing for products or services. You pay this to the Australian Taxation Office (ATO) when it’s due – more on this on the ATO website.

If you are engaging in a part-time activity, there is the question of whether it is a business or a hobby. If you are not sure, use these guidelines to determine if it is considered a business or hobby. For businesses that expect to remain below the threshold, registration is optional. However, a business that decides to register and continues to remain below the threshold amount will be required to report and pay GST.

You must register for GST if:

  • your business has a GST turnover of $75,000 or more
  • your non-profit organisation has a GST turnover of $150,000 or more
  • you provide taxi or limousine travel (including ride-sourcing services like Uber, GoCatch, Didi or OLA) regardless of your GST turnover
  • you want to claim fuel tax credits for your business, regardless of your GST turnover

Click HERE for more information.

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