Beginners Guide to GST in Australia

Goods and Services Tax (GST) is a 10% tax on most goods and services sold in Australia. If your business earns $75,000 or more per year, you must register for GST within 21 days. Not-for-profit organisations have a higher threshold of $150,000, and taxi or ride-share drivers must register regardless of turnover.

Once registered, you’ll need to charge GST on sales and report it to the ATO using a Business Activity Statement (BAS). This includes GST you collect from customers and the GST you’ve paid on expenses. BAS is usually submitted quarterly, but frequency can vary depending on turnover.

You must also issue proper tax invoices for sales over $82.50 and choose between cash or accrual accounting methods for GST. Cash basis aligns with payment dates, while accrual tracks invoices issued or received.

Understanding GST helps keep your business compliant and financially healthy. At HelloLedger, we support small businesses with GST, bookkeeping, and accounting. Reach out today and let us simplify GST for you! Read more