Knowing when to register for GST is something that all startup businesses should be aware of. GST stands for Goods and Services Tax which is a consumer tax of 10% that is applied to most supplies of goods and services in Australia. You can read more about it here.
So when do you need to register for GST?
The ATO requires you to have an Australian business number (ABN) so your business can be part of the GST system. Often, they can be obtained as part of the same registration at the Australian Business Register.
This Tax Tips Tuesday is brought to you with love by Nudge Accounting.