When do I need to register for GST?

Okay, let's break down the GST registration requirements based on the provided legislative context.

In Plain English

Generally, you need to register for GST if your business turnover reaches a certain threshold. For most businesses, this threshold is $75,000. However, if you're a non-profit organization, the threshold is higher, at $150,000. These figures are specified in the A New Tax System (Goods and Services Tax) Regulations 2019.

Keep in mind that even if you don't reach these thresholds, you can still choose to register for GST if you wish.

Detailed Explanation

The A New Tax System (Goods and Services Tax) Act 1999 outlines the requirements for GST registration. Section 23-5 states that you must register if you are *required to be registered.

Section 23-15(1) specifies the registration turnover threshold:

• For entities other than non-profit bodies, the threshold is $50,000 or a higher amount specified in the regulations.
• For non-profit bodies, the threshold is $100,000 or a higher amount specified in the regulations.

The A New Tax System (Goods and Services Tax) Regulations 2019 sets the actual thresholds:

• Regulation 23-15.01 specifies the threshold for entities other than non-profit bodies as $75,000.
• Regulation 23-15.02 specifies the threshold for non-profit bodies as $150,000.

Section 25-1 of the A New Tax System (Goods and Services Tax) Act 1999 states that you must apply for registration within 21 days after becoming required to be registered.