- Jessica Muir
Registering for GST - the 12 Month Rule
The 12 Month Rule
You reach the GST turnover threshold if either:
your ‘current GST turnover’ (your turnover for the current month and the previous 11 months) totals $75,000 or more ($150,000 or more for non-profit organisations).
your ‘projected GST turnover’ (your total turnover for the current month and the next 11 months) is likely to be $75,000 or more ($150,000 or more for non-profit organisations).
Your GST turnover is your gross business income (not your profit), excluding any:
GST you included in sales to your customers.
Sales that are not for payment and are not taxable.
Sales not connected with an enterprise you run.
Input-taxed sales you make.
Sales not connected with Australia.