@dylan11235813 wrote:I think when using the $75000 limit it needs to be calculated per quarter or month (It does say on the ATO site somewhere) and definately not over the entire year. To actually have to register that is.
If you are not registered for GST, check each month to see whether you have reached the GST turnover threshold. You must register within 21 days of reaching the threshold.
If your current GST turnover reaches or is more than the GST turnover threshold but you satisfy us that your projected GST turnover will be below the threshold, you do not have to register for GST.
If you do not register for GST and you are required to do so, you may have to pay GST on the sales you have made since the date you became required to register – even if you did not include GST in the price of those sales. Not only will you be out of pocket for the amount of GST, but you may have to pay penalties and interest.
https://www.ato.gov.au/Business/GST/Registering-for-GST/Working-out-your-GST-turnover/
