Hello, just wondering, if I am under the threshold for GST of $75k, do I need to charge GST and hence report on it? I'm about to do my annual report for last year and I was over $75k just. This year I'll be under $75k, so do I continue to charge my clients GST and how do I report it. Do I need to cancel the registration?
I am not sure you have quite grasped the concept of GST turnover to determine whether you are required to be registered for GST or not. Link below explains
Registering for GST | Australian Taxation Office
It is based on a 12 month period. This is your last month plus previous 11 months. Or it can be your projected turnover. This is your current month plus the next 11 months. It is not based on an annual report.
Note the statement in above link
Even if your current GST turnover is at or above the threshold, you don't have to register for GST if your projected GST turnover will be less than the threshold.
I am not sure you have quite grasped the concept of GST turnover to determine whether you are required to be registered for GST or not. Link below explains
Registering for GST | Australian Taxation Office
It is based on a 12 month period. This is your last month plus previous 11 months. Or it can be your projected turnover. This is your current month plus the next 11 months. It is not based on an annual report.
Note the statement in above link
Even if your current GST turnover is at or above the threshold, you don't have to register for GST if your projected GST turnover will be less than the threshold.
15 Apr 2026 · 4 min read time
22 Apr 2024 · 6 min read time
15 Apr 2026 · 4 min read time
97 views
1 replies