Good afternoon,
One of our client's turnover is less than $75,000 for the previous 12 months based on an accrual basis.
However, the turnover is more than $75,000 for the same period based on a cash basis.
Can we choose one of the methods and delay GST registration?
Thank you
Simon
Hi @123SL,
The requirement to register for GST is based on the "gross business income" received in one financial year. Your client would be required to register for GST in the financial year that they reached and exceeded the $75,000 gross business income (cash basis reporting).
Hi @123SL,
The requirement to register for GST is based on the "gross business income" received in one financial year. Your client would be required to register for GST in the financial year that they reached and exceeded the $75,000 gross business income (cash basis reporting).
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