GST for small business

What does being registered for GST mean?

If you are registered or required to be registered for GST, you include GST in the price of most goods and services you sell. See 'Section 02' and 'Section 03' for when you do and do not have to include GST.

You must complete an activity statement every month or quarter, or an annual GST return to:

• report and pay the GST on your sales
• claim credits for any GST included in the price of your business purchases (provided you have a tax invoice and you are entitled to claim a GST credit).

The reporting period you use is called a tax period. See When to report and pay GST for details of the type of tax period that applies to you.

If you are not registered or required to be registered for GST, you do not include GST in the price of your sales and you cannot claim credits for any GST included in the price of your purchases, even if they are for your business. But if you can claim the business expense as an income tax deduction, you can claim the entire expense, including GST, on your income tax return.

Sections within 01 Register for GST

• What does being registered for GST mean?
• GST groups