Small Business Start Up Finances Guide
Step 6 – Are You Sure About GST Registration?
If you expect to earn in excess of $75,000 in the next 12 months, you MUST be registered for GST.
If you expect to earn less than $75,000, then you have the choice. The main reasons why people in this second category chose to register for GST are:
- major upfront expenditure includes GST which you want to recoup
- you want your clients to perceive that you are of such a size that you need to be registered for GST. (Keep in mind here that if you are dealing b2b that your clients are likely to be able to recoup any GST shown on your invoice.