Registering for GST


As a business owner, it's your responsibility to register for GST if your turnover exceeds the $75,000 threshold or is likely to exceed it. The ATO advises that if you've just started a new business and expect it to earn $75,000 or more in its first year of operation, you should register for GST.

Registering for GST means the price of your goods and services will have a markup on it, but it also had a silver lining that you can claim GST back on your business related purchases. As we have mentioned before, we suggest keeping receipts for all these claims and a diary/excell sheet to note them down (if without software such as xero).

#RegisteringforGSt #RegisterGST #GSTRegistry #NewBusiness #BusinessTax #Bookkeeping

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The Great Bean Counters are Registered Tax Accountants offering accounting services to Brisbane’s Western Suburbs including but not limited to: Moggill, Chapel HillKenmore, Fig Tree Pocket, Indooroopilly, Upper Brookfield, Brookfield, Pullenvale, Pinjarra Hills, Bellbowrie, Anstead, Mount Crosby, Kholo, Kenmore HillsKarana Downs, Indooroopilly, Taringa and Toowong.

We are a Brisbane based accounting firm.

*Liability limited by scheme approved under Professional Legislation

 ABN: 19 617 763 836