Small Business / GST

FAQs - Small Business/GST

If your business's gross income is less than $75,000, you are not required to register for GST or pay
BAS. BAS payment is only necessary for businesses that charge GST.

No – you only have to pay BAS if you charge GST; and the income threshold for this is $75,000. So if
your businesses’ gross income is less than $75,000, you won’t need to register for GST or pay BAS

Sole traders are required to pay BAS only if their gross income exceeds $75,000 and they meet the
eligibility criteria.

Late fees for GST are determined by the number of days payment is overdue, excluding public
holidays, and your business turnover. Payment of the fee will stop once paid.

Your refund may take up to 12 business days to process. In case you have any outstanding debts or
lodged after the standard due date, the processing time may be longer.

Unfortunately, you still have to pay the 10% amount from the point that you should have been
charging GST. This will mean that you’ll lose out on 10% of invoices paid over $75,000 as you haven’t
been charging the GST.

No – superannuation guarantee reporting is done separately.

We are here for you.

We offer Accounting, Taxation And Bookkeeping Services for our clients in Melbourne's Outer Eastern Suburbs. With a wealth of experience, and depth of knowledge, across a wide range of sectors, TAS will work with you to determine the best path forward for your business.  


Our accounting services are specialized and our CPA accountants assist with all tax and business requirements


We'll take care of your bookkeeping so you can focus on growing your business.

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Are you looking to elevate your business to new heights? Meet our highly qualified Business Coach Dorothea Farmakis.

Business Structures

Assisting you in protecting your assets, minimizing your tax bill, and planning for the future

Capital Gains

CGT (Capital Gains Tax) is a tax you pay when you sell an asset or investment and receive a profit.

Corporate Consulting

We help you understand your business, forecast financial performance, manage your business and review key performance indicators.


Taking care of your personal and business tax needs so you can concentrate on growing your business

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Tailored Accounting Solutions has accredited specialists with expertise in providing various audit services.