|
Is your annual turnover from all sources more than $60,000 per year?
|
|
In determining turnover only include sales that form part of an activity you
carry out that involves supplying goods and services. The activity does not
need to be carried out for profit, but does not include hobbies or private
recreational activities.
Selling goods will not necessarily create a requirement to be GST registered.
-
There must be a continuous or regular activity involving supplying goods or
services for there to be an entitlement or requirement to be GST registered.
-
If there is a continuous or regular activity and the taxable supplies over the
last 12 months exceed $60,000, or are expected in the next 12 months to exceed
$60,000 then you must be registered for GST. In determining whether you are
required to register for GST an intention to make a profit from the activity
isn't required. However hobbies and private recreational activities undertaken
personally are excluded.
|
|
|