GST compliance can be a complex area for small businesses, but getting it right is crucial to avoiding penalties and maintaining financial health. Understanding when your business must register for GST—usually when your turnover exceeds the $75,000 threshold—is the first step. From there, it's important to issue valid tax invoices, keep accurate records, and lodge Business Activity Statements (BAS) on time. Using accounting software can simplify this process and ensure you claim the correct input tax credits. Staying updated with the ATO’s latest guidelines and seeking advice from a tax professional can help you stay on top of your obligations. Proper GST management not only ensures compliance but also builds trust with clients and partners.
https://www.agibookkeeping.com.au/navigating-gst-compliance-for-small-businesses/