Do i register for gst for 1 month then cancel the registration?

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(Newbie)Newbie

5 June 2024

I’m a sole trader and have just earned $77,000 and crossed the gst threshold. I anticipate to earn $80,000 by the end of financial year. Do I just register for gst for one month and cancel the registration next month as I do not anticipate on earning beyond $60,000 next financial year.

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Taxduck

(Taxicorn)Taxicorn

6 June 2024

You are required to register for GST when your GST turnover exceeds $75,000. Check this link for what "GST turnover" is before deciding when after registering you are entitled to cancel your registration.

https://www.ato.gov.au/businesses-and-organisations/gst-excise-and-indirect-taxes/gst/registering-for-gst#WorkingoutyourGSTturnover

This link is to cancelling your GST registration.

https://www.ato.gov.au/businesses-and-organisations/gst-excise-and-indirect-taxes/gst/if-your-business-changes-or-ceases/cancelling-your-gst-registration