Quiz: Should I register my business for GST?

Goods and Services Tax (GST) is a general tax of 10% applied to most goods, services, and other items sold or consumed in Australia. Businesses collect it on behalf of the Australian Taxation Office (ATO), and it is typically included in the price of goods and services. Registered companies must remit the GST collected from customers to the ATO through regular Business Activity Statements (BAS) filings.

Understanding whether your business needs to register for GST depends on various factors, including turnover, the nature of your products or services, and legal requirements. In Australia, businesses with an annual turnover of $75,000 or more must register for GST. Additionally, certain businesses may register voluntarily, especially if they want to claim input tax credits on purchases related to their business activities. Some businesses, such as rideshare drivers, must register for GST regardless of their turnover.

While registering for GST may increase administrative responsibilities, it can also provide opportunities to claim input tax credits and enhance your business's credibility with customers and suppliers.

Our quiz aims to guide you through evaluating whether registering your business for GST is the right decision. By considering factors such as turnover, your product and services, and legal requirements, you can make an informed choice that aligns with your business goals and obligations. So, let’s get started and determine whether GST registration is the next step for your business.