If you've realized that you've forgotten to register your Australian Business Number (ABN) for Goods and Services Tax (GST), it's important to address the situation promptly. According to the Australian Taxation Office (ATO), you are required to register for GST if your business has a GST turnover of $75,000 or more. If this applies to you, you should register for GST as soon as possible.
You can register for GST via the ATO's Online services for business, by phone, or through a registered tax agent or BAS agent. If you're backdating your GST registration, you may need to lodge Business Activity Statements (BAS) for the period that you were not registered, and pay any GST due.
It's also advisable to consult with a tax professional to ensure that you comply with all requirements and to understand any potential implications, such as penalties or charges, for the period you were not registered.
For further guidance, contact Namecorp’s Support and Compliance Team either by phone on 1300 006 263 or via email at support@namecorp.com.au.