Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 188.5

    This table specifies the turnover thresholds and indicates how they affect the operation of this Act.

 

Turnover thresholds
Item	This turnover threshold ...	Is relevant to working out:
1	Registration turnover threshold	whether you are required to be registered (see section   23 - 5).
2	Tax period turnover threshold	whether tax periods must be monthly (see section   27 - 15).
3	Cash accounting turnover threshold	whether you can elect to account on a cash basis (see section   29 - 40)
4	Electronic lodgment turnover threshold	whether you must lodge GST returns electronically (see section   31 - 25); whether you must pay amounts of GST electronically (see section   33 - 10).
4AA	Small enterprise turnover threshold	whether you can choose to apply a simplified accounting method as a small enterprise entity (see section   123 - 7)
4A	Annual apportionment turnover threshold	whether you can make an annual apportionment election (see subsection   131 - 5(2))
5	Instalment turnover threshold	whether you can elect to pay GST by instalments (see subsection   162 - 5(2))

Note 1:   The provisions referred to in the table indicate if the issue in relation to the turnover threshold in question is whether the threshold is met, or whether the threshold is not exceeded.

Note 2:   Items   3, 4A and 5 of the table apply to you only if you do not carry on a business.

Note 3:   This section is an explanatory section.