Who can use cash accounting for GST?
You are eligible to account for GST on a cash basis if: • you are a small business with an aggregated annual turnover of $2 million or less (including the turnover of your related entities) • you are not operating a business, but are carrying on an enterprise with a GST turnover of $2 million or less • you account for income tax on a cash basis • you carry on a kind of enterprise the Tax Office has decided is eligible, regardless of your GST turnover • you are an endorsed charitable institution, trustee of an endorsed charitable fund, gift-deductible entity or government school, regardless of your GST turnover If you do not fit into any of these categories but wish to account for GST purposes on a cash basis, contact the Australian Tax Office.
