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Does my business need to register for GST?

You must register for GST if your current turnover (turnover for the current month and previous 11 months) or projected turnover (turnover for the current month and the next 11 months) is $75,000 or more.  If your turnover is under the $75,000 threshold, GST registration is optional.

For example, if you have sales of $80,000, you would …

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Top End of Financial Year Tips for SME’s

$20,000 asset write-off

The instant write off applies to assets purchased up to the value of $20,000 for business that have annual revenue of up to $2 million. ¬†This gives an immediate tax deduction instead of having to write the asset off over the following years (depreciate). Eligible assets include things like vehicles, office furniture and equipment.…

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