Turnover, is total money received.

One issue with the $75000, knowing if this is likely to happen. eg you have a better year than you thought you would. You could easily turnover that figure but not be previously registered and hence having the documents or having filled out a BAS.

Then that figure may be a one off, so is not a requiremnt the next year.

So that begs the question how strict is the compliance reqiuirement for that threshold?

I used to be registered when I also had a  B & M. Eventually admitted I wasn't going to reach that threshold in the near future, so cancelled it as I couldb't see the point writing a quarterly cheque to ATO, given that i couldn't collect anymore to compensate. It ends up being a straight 10% tax on our profits