GST Resources Centre

It is not uncommon for an entrepreneur to be unsure of how to treat GST on the books. Brisbane bookkeeping and accounting rules do not classify GST as an expense, nor an income. Before we can proceed to the accounting of GST, let us first define what GST is. GST or goods and service tax,…

Registering for GST is optional if your yearly GST turnover or gross income is below $75,000. It only becomes an obligation if you’re earning over that amount. For non-profit organizations, the yearly GST turnover amount limit before GST registration is $150,000. However, if you provide taxi travel services for a fare, you are required to…