Home – New Forums Money matters The ABN & Other Myths Arising from Contracting Reply To: The ABN & Other Myths Arising from Contracting

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Numberz, post: 51398 wrote:
You would only pay if you have collected GST – if you aren’t registered then you won’t charge GST on your invoices to your clients/customers.

I recommend you ask your tax advisor or accountant if you are unsure of anything and are close to the threshold (or expect to be in the next 12 months).

I am going to see an accountant I was recommended, he is a busy man so I have to wait until the middle of October before I see him for our first consult. Ebay stipulates that you factor GST in to the final price. So my question really is if you have registered for tax, does that automatically imply that you are turning over $75k per year and they will expect to receive their percentage?. If you can prove that you are not earning over that threshold will you be exempt even if you are registered. Because at first I thought GST was mandatory as I read it off Ebays help guide so I registered my business for GST. At this point I have no real guide to what my turn over will be as it is just getting off its feet, I don’t expect to make 75k in my first year so should I revoke my registration or am I even allowed to do that?.

Thank you.