If you're running an enterprise of providing services through a digital platform you may need to register for an Australian business number (ABN) and goods and services tax (GST). If you're an employee, you are not entitled to an ABN or required to be registered for GST.
You need to register for GST if:
- your GST turnover is $75,000 or more
- you are entitled to claim fuel tax credits for your business and wish to do so (fuels used in light vehicles travelling on public roads aren't eligible for fuel tax credits).
When working out your GST turnover, you need to look at the income from all of your businesses or enterprises.
If you're registered for GST, you can claim GST credits for any expenses related to your business.
You need an ABN to register for GST.
If you're already registered for GST
If you have an existing GST registration and you use the same ABN for sharing economy activities, you will need to report and pay GST for all business income.
For example, you will need to report and pay GST for all income if:
- you're providing ride-sourcing services and dog-sitting services (as an enterprise) and use the same ABN
- you run a GST-registered business as a tradesperson and you pick up odd jobs through the sharing economy using the same ABN.
- Are you in business?
- Registering for GST
- Working out your GST turnover
- Claiming GST credits
- Fuel tax credits – business