Home – New Forums Money matters Earn over 75K and not gst registered? Reply To: Earn over 75K and not gst registered?

  • Total posts: 155

I’ve heard many stories, but most of them the ATO have been very forgiving if you were late on realising you go over the threshold. They have to cover their costs from the GST you have not paid if you are not a serial offender, and the amount is not much you should be ok.

Also, just want to make it clear it’s revenue, ie the amount of sales that reach $75,000 not your profit. I can’t remember as a Sole Trader what you report on your annual tax return? I know your profit goes in as wages. But what information do you need to supply about revenue?