GST for small business

About GST for small business

This guide explains what you must do to meet your goods and services tax (GST) obligations if you carry on a business and you do any of the following:

• have a GST turnover of $75,000 or more ($150,000 or more for non-profit organisations)
• have a GST turnover of less than $75,000 (less than $150,000 for non-profit organisations) but choose to register for GST
• provide taxi travel.

Terms we use

When we say:

• you, we mean you as a business, for example, a sole trader, a partnership, a trustee of a trust or a superannuation fund, or a company
• business, we mean the GST term enterprise
• annual turnover, we mean your aggregated turnover, that is the amount you use to work out your eligibility for some small business concessions. It includes the turnover of businesses you are connected with
• GST turnover, we mean the turnover figure you use to work out if you need to be registered for GST (see Working out your GST turnover). It does not include the turnover of businesses you are connected with
• sales, we mean the GST term supplies
• purchases, we mean the GST term acquisitions
• payment (made or received), we mean the GST term consideration
• GST credit, we mean the GST term input tax credit
• property, we mean the GST term real property.

Some technical terms used in this guide may be new to you. They are explained in the list of definitions.

Throughout this guide you will find important notes (look for the symbol) which will help you with key information.

You will also find 'more information' boxes (look for the symbol) which will show any further steps you may need to take or supplementary information you may need to refer to.