Australian Tax Office Clarifies GST Registration Rules, Thresholds, and Cancellation Procedures

• GST registration is required if annual sales turnover is at least A$75,000.
• GST registration can be cancelled if turnover falls below A$75,000, but GST credits can’t be claimed after cancellation.
• GST registration must be cancelled within 21 days of ceasing business activities.
• Taxi and ride sourcing drivers must register for GST regardless of turnover.
• GST registration changes can be made online or through a registered tax or BAS agent.

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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