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Budget 2024 | The Government has confirmed changes to personal income tax, the independent earner tax credit, in-work tax credit, and the minimum family tax credit. Find out more: Personal income tax threshold changes

You can still register for GST if your turnover from a taxable activity is less than $60,000.

The advantages of registering for GST include:

  • it helps you keep on top of your paperwork and see how your business is doing
  • you can claim on your expenses relating to your taxable activity
  • it might make it easier to deal with your suppliers.

The disadvantages of registering for GST include:

  • you need to add GST to your prices
  • you need to file returns regularly
  • you are charged penalties if your returns or payments are late.
Last updated: 28 Apr 2021
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