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Is registering for GST mandatory?

From 1 January 2023, it is a mandatory requirement to have your business registered for GST to continue being a qualified Runner on the GoPeople platform.

When you get an ABN, you don’t automatically qualify for GST. They’re two different things. Please contact the ATO and/or your accountant for further advice.

Typically, based on ATO’s requirements, “You must register for GST if you run a business or other enterprise and your annual turnover is $75,000 or more. If you run a business or other enterprise and your annual turnover is less than $75,000, registering for GST is optional.”

As you work for yourself, you are considered by the Australian Tax Office (ATO) to be a ‘Sole Trader’ (below is an image, so don't try to click on the 'register for GST' link!):

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If you are registered for GST, all services you provide are GST payable. It is your obligation to keep and maintain accurate and complete records.

Learn how to register for GST by following this link.

FAQs:

Does it cost to register GST?

It's simple to register for GST yourself and it costs nothing.

Can I register GST as a sole trader?

Yes, you can.

Can I register GST if turnover is less than 75000?

If your GST turnover will exceed the $75,000 per year threshold, you will have to register for GST within 21 days. You can choose to register if your GST turnover is below the $75,000 threshold, however this means that once registered, regardless of your turnover, you must include GST in your fees and claim GST credits for your business purchases.

What are GST credits?

GST credits are a potential amount of money your business might be able to claim from the ATO. If you are registered for GST, you can claim back the GST that has been included in the purchase price of something you've bought for your business. For example, you can claim GST on petrol, car servicing and insurance. Visit the ATO's website for more information on this or, alternatively, speak to a tax professional who can advise on your personal circumstances.

How can I update my GST settings for Go People?

You can login into the Runner App -> Go into "Account" from bottom nav -> Update ABN and check for GST.