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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 42649
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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If a sole trader earns 75000 a year, does the sole trader

Customer Question

If a sole trader earns 75000 a year, does the sole trader need to register for GST
JA: The accountant will know how to help. Please tell me more, so we can help you best.
Customer: what details would be needed
JA: Is there anything else important you think the accountant should know?
Customer: I am honestly not too sure.
Submitted: 15 days ago.
Category: Australia Law
Expert:  Leon replied 15 days ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  Leon replied 15 days ago.

Good Morning.

If they ear up to $75,000.00 they do not have to register for GST.

Once you exceed the $75,000.00 and you are not registered then you will be asked to pay 1/11th of your total sales as GST.

Not be aware it is not your taxable income that has to be under $75,000.00 it is your sales. So if you have sales greater than $75K you should be registered even if you do not pay tax on that because of your deductions.

I hope this makes sense and is of assistance. if there is nothing further

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Regards

Leon