#02 What The Heck Is GST (and when should I register?)

Is the concept of GST overwhelming you? You’ve heard that you should register for GST at some point, but when?
In this episode, Iโm diving into what GST even is and when you should register for it. Iโll talk about the types of transactions that are GST free, the benchmark and timeframe for registering for GST, deciding on the method of registration (cash or accrual) and how to absorb it into your pricing.
Goods and Services Tax (GST) is a 10% tax and is designed to be paid by the person at the end of the sale – not the businesses doing the buying and selling. Itโs completely different from your income tax so if youโre registered for GST then you must do both.
Iโm finishing off this jampacked episode with some hot tips for you! If youโre struggling with working out the GST or youโre in e-commerce and charge shipping, make sure you listen closely.
RESOURCES MENTIONED:
GST | Australian Taxation Office (ato.gov.au)
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