Various thresholds for concessions and obligations apply for GST purposes. This is a summary.
For the meaning of “GST turnover” see GSTR 2001/7
In general, for a supplier to be liable for GST on a taxable supply, one of the requirements is that the supply must be connected with Australia. See GSTR 2018/1 Goods and Services tax: supplies of real property connected with the indirect tax zone (Australia).
| About | Threshold/period |
| GST calculations | The basic GST percentage rate is calculated as 10% of the value of a taxable supply. See taxable sales |
| Compulsory Tax Invoice or adjustment note | GST-exclusive value of supply of more than $75 |
| Tax invoice information must (additionally) include the buyer’s identity or ABN | Sales of $1,000 or more (see also: tax invoice template) |
| Annual basis (optionally) for reporting and paying GST – for businesses voluntarily registered, GST turnover is below the registration threshold | GST turnover of less than $75,000 (or $150,000 for non-profit bodies) |
| Annual apportionment (optionally) of input tax credits can be made by Small Business Entities and entities not carrying on a business | GST turnover of $2 million or less ($10 million or less from 1 July 2016) |
| Input tax credits are limited on higher-priced cars (based on the GST-inclusive market value) | See Car depreciation limit |
| GST registration is mandatory if GST turnover is over the registration threshold | GST turnover of $75,000 (or $150,000 for non-profit bodies and body corporates) or more |
| Monthly GST returns are compulsory for larger businesses | GST turnover of $20 million or more |
| Monthly GST returns are also compulsory if.. | carrying on enterprise in Australia for less than 3 months |
| Monthly GST returns are also compulsory if.. | requested on the basis of past compliance performance |
| Electronic lodgement of GST returns is compulsory for larger businesses | GST turnover of $20 million or more |
| Input tax credits can be claimed on financial acquisitions which are below the ‘financial acquisitions threshold’, and less than 10% of the entity’s total input tax credits | Annual input tax credits of $150,000 (equivalent to a GST-inclusive annual threshold of $1,650,000) See further: GSTR 2003/9 |
| Small business entities and entities not carrying on a business can elect to pay their GST in quarterly instalments | GST turnover of $2 million or less ($10 million or less from 1 July 2016) |
| Food retailers – simplified accounting methods (‘SAMs’ – 5 methods) when selling both taxable and GST-free food from the same premises | ‘SAM turnover’ of $2 million or less. See SAM Guide |
| GST-free low value imports (of supplies not connected with Australia) | Customs value of $1,000 or less (see examples and also note amendment to remove this concession from 1 July 2018) |
| GST on Food | There is a broad exclusion of GST on food provided under Section 38-2 of the GST Act. See more here. |
See also:
Deferred GST scheme for importers
This page was last modified 2018-08-23