Personal Services Income (PSI) and GST

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(Enthusiast)Enthusiast

8 May 2023

Hello,

I am a sole trader and my income from 2+ clients constitutes PSI under the ATO's rules. It has come to my attention that even though my income is classified as PSI, I might still need to register for GST if my PSI exceeds $75k. Is this correct? If so, I am worried because I passed this threshold over a month ago and it is my understanding you need to register for GST within 21 days of surpassing this income level or incur significant penalties. :( Is anyone able to offer any advice around this? What is the best number to contact the ATO on to discuss my predicament and correct the situation if required? I don't want to get it wrong! Thanks in advance for your help.

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