Business Compliance
GST Compliance
Keep GST status, invoicing, bookkeeping, reporting, and cancellation or registration decisions aligned as the business changes.
Overview
GST Compliance explained
GST compliance is about keeping your goods and services tax obligations aligned as your business changes, from registering and invoicing correctly to reporting on time and deciding when to cancel. GST is administered by the ATO, and your obligations shift as your turnover and activities grow.
Registration is generally required once your turnover reaches the $75,000 threshold, and once registered you need to issue tax invoices, keep accurate records, and report through your BAS on the cycle the ATO sets. If your turnover falls away or you stop trading, cancellation may come into play.
Cockatoo helps you keep your GST status, invoicing and reporting deadlines in view, so registration and reporting decisions are made on time rather than in hindsight. We are not the ATO and do not lodge for you, but we help you stay aligned with what it expects.
What to check
Key points
- Registration is generally required once turnover reaches the $75,000 threshold.
- Registered businesses must issue tax invoices and keep accurate GST records.
- Reporting happens through your BAS on a cycle set by the ATO.
- If turnover drops or you stop trading, cancelling registration may be appropriate.
Before you start
What you'll need
- Your current GST registration status and the date you registered.
- Your projected and actual turnover against the $75,000 threshold.
- Tax-invoice templates that meet ATO requirements.
- Up-to-date bookkeeping records of GST collected and paid.
- Your BAS reporting cycle and the next lodgement date.
- Records to support a registration or cancellation decision.
Process
How it works
- Check your turnover against the GST registration threshold.
- Register for GST through the ATO when you are required to.
- Issue compliant tax invoices and keep your records current.
- Report and lodge your BAS by each due date.
- Review your status periodically and consider cancellation if you no longer qualify.
Avoid these
Common mistakes
- Not registering once turnover has clearly passed the $75,000 threshold.
- Issuing invoices that do not meet tax-invoice requirements.
- Falling behind on BAS lodgements and accruing penalties.
- Staying registered out of habit when cancellation would be appropriate.
Common questions
GST Compliance FAQs
What does GST compliance involve?
GST compliance involves registering when required, issuing compliant tax invoices, keeping accurate records, lodging your BAS on time, and reviewing whether to stay registered. Cockatoo helps you keep these moving parts aligned as your business changes.
When do I have to register for GST?
You generally must register for GST once your business turnover reaches the $75,000 threshold, or if you expect it to. Some activities require registration regardless, so it is worth checking your situation against the ATO's rules.
Can I cancel my GST registration?
You can cancel if you no longer meet the requirement to be registered, for example if your turnover drops below the threshold or you stop trading. While you remain above the threshold, you generally need to stay registered.
How often do I report GST?
You report GST through your Business Activity Statement on a cycle the ATO assigns, commonly monthly, quarterly or annually depending on your circumstances. Cockatoo helps you track each due date so lodgements are not missed.
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