Australia Tax Agency Clarifies GST Registration Obligations

The Australian Taxation Office Dec. 2 clarified GST registration obligations. The clarification includes that: 1) taxpayers must register for GST and issue tax invoices charging GST on sales, if annual sales turnover is at least A$75,000 (US$49,330); 2) taxpayers may cancel GST registration if annual sales turnover falls below A$75,000, but can’t claim GST credits after cancellation; 3) taxpayers who have ceased trading must cancel GST registration within 21 days of ceasing business activities; 4) taxi and ride sourcing drivers must register for GST regardless of turnover; and 5) taxpayers can register or cancel their GST registration online, or through ...