Home Forums Money matters Help with GST Registration

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  • #993011
    77tosh
    Member
    • Total posts: 6

    Hi,

    In true Australian bureaucratic style I’m trying to register for GST and the Business Portal is enough to make me want to jump off the roof and end it all. However, as this is not in my 5 yr plan I’ve decided to not off myself and proceed.

    Thanks to this website I managed to get some meaningful assistance on actually applying for GST through the Business Portal, but now I am not sure which of my 3 accounts to apply it to. They are listed as

    1. Income Tax Payer
    2. Tax Bonus Payment 1
    3. Activity Stmnt 2

    The top one of these says it’s been active under ‘status’…the other two says ‘no role attached’.

    It may be relevant to know I’m a sole trader, operating as a contractor and earning more than $75k and collecting GST.

    Please help

    Tosh

    #1189339
    kathiemt
    Member
    • Total posts: 1,168

    Have you chatted to your accountant? They’re probably the best person to advise what you need to do as they will be fully aware of how you’re set up.

    #1189340
    affgar
    Member
    • Total posts: 123

    Yea, I agree .. best to chat to an accountant.
    I am glad you have experienced the joys of the Portal first hand! You survived … its only up from here right … lol ;)

    #1189341
    bb1
    Participant
    • Total posts: 4,485
    77tosh, post: 222147, member: 63378 wrote:
    Thanks to this website I managed to get some meaningful assistance on actually applying for GST through the Business Portal, but now I am not sure which of my 3 accounts to apply it to. They are listed as

    1. Income Tax Payer
    2. Tax Bonus Payment 1
    3. Activity Stmnt 2

    The top one of these says it’s been active under ‘status’…the other two says ‘no role attached’.

    It may be relevant to know I’m a sole trader, operating as a contractor and earning more than $75k and collecting GST.

    Please help

    Tosh

    should you be collecting gst if you are not registered

    #1189342
    Fiso
    Member
    • Total posts: 16

    Hi,

    the GST rule is pretty straight forward.
    There are 3 situations:
    1. you have a yearly revenue of 75,000 or more, or you know you are going to get that during the year;
    2. you don’t have 75,000 thresholds, but you want to register.
    3. you don’t have the 75,000, but suddenly in the middle of the year, a big account pushed you over that number.

    in all this cases you need to register for GST.

    Now you must follow the “amazing” portal, but the trick here: it’s only bad at first, later you’ll see the light at the end of the tunnel, so be brave and complete the process, with the best no die attitude you can manage it’s quite worth it.

    good luck and happy new year :)

    #1189343
    77tosh
    Member
    • Total posts: 6

    Thanks….I opted for the accountant.

    #1189344
    al.giffard
    Member
    • Total posts: 97

    Hi Tosh,

    Congrats on surviving your Portal experience, and good move getting an accountant to sort it out for you; sounds like it might save a bit of stress.

    Just for future reference or for others, the GST registration goes under the “Activity Stmnt” account.

    Essentially, most people have two ‘accounts’ with the ATO; one is an “Income Tax” account that relates only to your income tax returns, and nothing else. The other is an “Activity Statement” account that relates to everything you put on a BAS/IAS, including GST, PAYG Withholding, PAYG Instalments, Fuel Tax Credits, etc.

    The other one you have listed there – “Tax Bonus Payment” – is an old account they set up just for the $900 bonus payment that Mr Rudd so kindly handed out in 2009. You can ignore that one.

    Cheers,

    Alan.

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