As your business grows, one important question arises: Do I need to register for GST? At Reliance Accounting, we’ve been simplifying taxes & accounting for Australians for the last 15 years, and here’s what every Australian business owner should know.
When Must You Register?
You must register for GST if:
- Your annual turnover is $75,000 or more
- You operate a rideshare or taxi service (even under the threshold)
- You want to claim fuel tax credits
Why Registration Matters
- You can claim GST credits on business purchases
- It boosts credibility with customers and suppliers
- Ensures compliance with ATO requirements
What to Prepare Before Registering
- Reliable accounting software for BAS reporting
- Updated invoicing with GST details
- A plan for how GST impacts your pricing
How to Register
- Through the Australian Business Register (ABR)
- Via the ATO Business Portal
- Or through your registered tax agent (Reliance Accounting can handle it for you)
Final Word
Waiting too long to register could lead to penalties. If your turnover is close to the $75,000 threshold, it’s time to act.
