Home Forums Tell me straight… Multiply businesses and gst obligations

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    Hello, looking for some advice please. I have 2 businesses,
    1. A trust as an entity (I am sole beneficiary) Earning 60k
    2. extra business (name) under the same abn. Earning 30k
    The entity is currently not registered for gst.

    For gst registration purposes, am I required to combine the incomes (ie., $90) which is over the 75k threshold and then I’m required to pay gst on both businesses?

    Or, does each business have its own separate $75k threshold, therefore I’m not required to be gst registered?
    Thank you all :)

    • Total posts: 1,691

    You only have one ABN, the business names attached to it don’t become seperate separate entities without their own ABN imo.

    Sounds to me like you need to do the GST thing…and talk to an accountant

    Paul – FS Concierge
    • Total posts: 3,126

    Hi And Welcome to Flying Solo

    It is great to have you!

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    • Total posts: 5

    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

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