As a business owner, it's your responsibility to register for GST if your turnover exceeds the $75,000 threshold or is likely to exceed it. The ATO advises that if you've just started a new business and expect it to earn $75 000 or more in its first year of operation, you should register for GST.
If you are a business registered for GST you need to lodge a business activity statement (BAS).
Your BAS will help you report and pay your:
goods and services tax (GST)
pay as you go (PAYG) instalments
PAYG withholding tax
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