- There is no special legal category called “GST-exempt business” in Australia; GST rules depend on the type of business activity and supplies made.
- Supplies can be taxable (GST applies), GST-free (no GST charged, but GST credits can usually be claimed), or input taxed (no GST charged, and GST credits generally cannot be claimed).
- Businesses must register for GST if their turnover is $75,000 or more ($150,000 for non-profits), or if they provide taxi or ride-sourcing services regardless of turnover.
- Having an ABN is separate from GST registration, but is often necessary for invoicing and getting paid; invoicing without an ABN may result in tax being withheld by customers.
- Understanding GST categories and registration requirements is important for correct pricing, invoicing, and compliance.
Source: sprintlaw.com.au
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.
Latest Posts in "Australia"
- GST Pricing Rules in Australia: When, Where, and How to Display GST-Inclusive Prices
- ATO Clarifies GST Rules for Power Industry: BPPAs, Gifted Assets, and Agency Arrangements
- Final GST Rules Clarified for Sunscreen Products: Ensure Correct GST Application When Selling
- Australia Enacts Treasury Laws Amendment 2025: New GST Reverse Charge Deduction Rules Effective July 2024
- Australia Passes Bill Amending GST Input Credit and Reverse Charge Deduction Rules
