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Re: Jobkeeper non registered gst sole trader

Newbie

Views 446

Replies 2

Hi, I'm a non registered gst sole trader and in my monthly declaration for gst turnover i have been putting in 0 as I don't charge gst. Is this incorrect? Am I suppose to be putting in earnings
Thank you
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @jodancer,

 

This is one that has popped up a lot with JobKeeper! Unfortunately reporting nil isn't quite right. However, @Jack1704 is right, these amounts don't effect your payments.

 

Even if you aren't registered for GST there are parts of your income which make up your GST turnover. Luckily, once you have the figures, you can get it fixed up with a quick call. 

 

Step three of the Basic Test for GST turnover shows a list of excluded income, which I will paste below. So basically your GST turnover is everything you take in aside from:

  • GST you included in sales to your customers (if any)
  • sales that are input taxed sales (for example, bank interest, sale of shares, residential rental income)
  • sales not connected with an enterprise that you carry on (for example, sale of private car)
  • sales that are not made for payment (unless a taxable supply to an associate)
  • payments for no supply (for example, JobKeeper payments)
  • gifts and donations (except for deductible gift recipients and ACNC-registered charities as discussed above)
  • sales not connected with Australia, for example
    • sales of services made through a business you carry on outside Australia
    • sales of goods purchased and sold from a place outside Australia
    • sale of real property situated outside Australia.
2 REPLIES 2

Dynamo

Replies 0

@jodancer 

 

Here's what I've found on the ATO website in regards to the monthly declaration;

 

"The information you provide us on your turnover is not a re-test of your eligibility. We ask for this information to see how your business is progressing under the JobKeeper Payment scheme."

 

To be safe, I would also keep documentation of your sales (invoices, bank statements, etc)

 

I

Most helpful response

ATO Community Support

Replies 0

Hi @jodancer,

 

This is one that has popped up a lot with JobKeeper! Unfortunately reporting nil isn't quite right. However, @Jack1704 is right, these amounts don't effect your payments.

 

Even if you aren't registered for GST there are parts of your income which make up your GST turnover. Luckily, once you have the figures, you can get it fixed up with a quick call. 

 

Step three of the Basic Test for GST turnover shows a list of excluded income, which I will paste below. So basically your GST turnover is everything you take in aside from:

  • GST you included in sales to your customers (if any)
  • sales that are input taxed sales (for example, bank interest, sale of shares, residential rental income)
  • sales not connected with an enterprise that you carry on (for example, sale of private car)
  • sales that are not made for payment (unless a taxable supply to an associate)
  • payments for no supply (for example, JobKeeper payments)
  • gifts and donations (except for deductible gift recipients and ACNC-registered charities as discussed above)
  • sales not connected with Australia, for example
    • sales of services made through a business you carry on outside Australia
    • sales of goods purchased and sold from a place outside Australia
    • sale of real property situated outside Australia.