GST is compulsory if:
- Your projected business turnover for the current month and the next 11 months exceeds a $75k threshold
- You currently exceed the $75k threshold
- You provide taxi travel for passengers in exchange for a fare as part of your business, regardless of your GST turnover. This rule applies to both taxi owner drivers and those who rent a taxi
GST registration is voluntary if your business turnover is less than $75k.
GST turnover is your business’s gross income, not your profit.
Check out our full blog to learn more about GST obligations and payment periods.