Hello. I am a sole trader that turns over approx $70k per annum. In addition, I have an investment property that pushes my income over The $75k per annum BAS requirement. Do investment profits count toward the need for filing BAS? Or can I not file BAS given that my work as a sole trader is less than $75k? Thanks
Commercial or residential?. Link explains commercial property
Leasing and renting commercial premises | Australian Taxation Office
Income from this would be included in GST turnover. ($75,000 threshold)
Residential income is generally not a business activity.
Rental property as investment or business | Australian Taxation Office
The income is also input-taxed (GST exempt). Input-taxed supplies are not included in GST turnover.
Registering for GST | Australian Taxation Office
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