Home Forums Tell me straight… Multiply businesses and gst obligations Reply To: Multiply businesses and gst obligations

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Hi perryheslop,
The only purpose of an ABN is to calculate and track GST. It is attached to the owning entity for life (as a file number) and ALL the income through that ABN is combined. As soon as you reached $75k earnings for that month PLUS the preceding 11months combined, you were obligated to register and collect GST on top of your sales.
So yes, it sounds like you need to register for GST before you end up with a debt.
So, just to clarify, it is not based on financial year (or calendar year) earnings. It has its own special date range.

Hope that helps