You MUST register for GST if:
- Your business has an annual income of $75,000 or more
- Your non-profit organisation has an annual income of $150,000 or more
- Your business wants to claim fuel tax credits
- You provide taxi/limousine travel for passengers in exchange for a fare (Uber)
You may be inclined to VOLUNTARILY register for GST if:
- You want to claim GST credits during the initial start-up phase of your business. Where expenses exceed income, voluntarily registering for GST and an ABN will allow you to receive GST refunds/credits for the set-up costs. This will be particularly beneficial if you incur large early stage costs such as research & development.