This is a 10% tax that is added on to any goods and services provided that is subject to GST. Do I need to register for GST when I start a business?
You don’t need to register immediately unless you have forecasted your turnover (which is your sales or fees charged) will be more than $75,000 in the financial year (1 July to 30 June) Note- this is not your profit! It is compulsory to register even if you provide GST free services eg. Medical or international sales with a $75k turnover or more.
It is free and easy to register on the abr.gov.au site and can be done the same time you apply for an ABN. Once registered you will need to start adding or including GST of 10% on your sales/fees.
Goods and Services Tax (GST)
