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Registering for GST voluntarily

Criteria for voluntary registration

You can choose to register for GST if your taxable activity has an annual turnover of less than $60,000, this is called voluntary registration.

The table below lists the advantages and disadvantages of being GST-registered.

Advantages of being GST-registered Disadvantages of being GST-registered
If you purchase goods and services from someone who is GST-registered, you'll be charged GST and you'll be able to claim it back. You have to account to us for GST on all of your taxable goods and services, including grants and subsidies.
You can also claim GST if you purchase secondhand goods from someone who isn't GST-registered, and you use these goods in your taxable activity. Complying with GST requirements takes time.
Completing regular GST returns helps keeping your records up-to-date and accurate. When you stop your registration you have to pay GST on the open (current) market value of any business assets that you keep for private use.

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Date published: 31 Mar 2009

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