What Are The Benefits Of GST Registered In Australia?

What Are The Benefits Of GST Registered In Australia?

Starting up a new business in Australia?

But, GST worries got you down?

Worry not, this blog with help you.

Read this full blog to know the benefits of GSTs for your business.

What Is GST, And Who Needs To Register?

Goods and Services Tax, a 10% levy on most goods and services in Australia, plays a key role in businesses. If your business meets certain criteria – annual turnover of $75,000 or more, non-profit turnover of $150,000 or more, taxi or limousine services, or fuel tax credit eligibility – GST registration is a must.

But what if you’re below the threshold? While it’s optional, there are convincing reasons to consider taking the drop.

When And How To Register For GST?

Starting a new venture? If you anticipate crossing the $75,000 turnover threshold in the first year, you should register within 21 days of foreseeing this growth. Monthly check-ins help avoid missing the mark.

Registration is an easy process if you already have an Australian Business Number (ABN). You can utilise the Business Registration Service online if you’re ready to register for GST.

Why Register For GST?

Now, let’s know the advantages that come with being a GST-registered business.

#1 Annual Simplicity – Lodge Once, Reap The Benefits

Battling with the complexities of quarterly reporting?

Good news! GST-registered businesses only need to file their GST numbers once a year, easing the burden of regular reporting and allowing you to focus on your business operations.

#2 Tax Credits – More Money Back In Your Pocket

Being GST-registered opens doors to tax credits. While not everything qualifies, certain business expenses do. If your expenses are related to both business and personal use, you can claim the business portion of GST. It’s a potential boost to your tax return.

How To Handle The Registration Process?

If you feel your company is going to grow in the near future then, you can probably register yourself. Here’s a quick guide to your registration:

  1. Secure an ABN: Ensure you have an Australian Business Number.
  2. Contact the ATO: Reach out online, via phone, or through your tax agent to initiate the registration process.
  3. Stay Informed: Await notification from the ATO confirming your registration details.

Considerations Before Registering For GST

While the benefits are enticing, it’s crucial to weigh the pros and cons:


  • Claim GST credits for business purchases.
  • Manage cash flow with quarterly payments.
  • Enhance the perception of your business.


  • Quarterly paperwork with Business Activity Statements (BAS).
  • Automatic 10% price increase, may impact competitiveness.


Now if you are preparing to launch your business venture in Australia, understanding the perks of GST registration is key. Beyond the numbers and thresholds, it’s about simplifying processes, maximising returns, and positioning your business for success.

And if you are facing any difficulties with GST registration, you can consult KPG Taxation. Their expert tax accountants will guide you through the entire process so that you can concentrate on other key aspects of your business. 

Consulting with KPG Taxation

Focus On Growing Your Business, Leave The Accounting On Us!

  • Income Tax : File your taxes & get the best claims & returns.
  • Accountancy : Hire expert accountants to manage your transactions.
  • Bookkeeping : Let us handle your record books and expense reports.
  • Business Advisory : From company set-up to payroll, we handle it all.