I am just starting out with drop shipping but I am not sure if we have to register for GST or ABN to start.It shows me i have to add ABN to exempt from GST. Is there any condition for this?It is so overwhelming and confusing.need suggestions please
Hey Niharika1, don’t worry — it’s simpler than it looks. In Australia, you need an ABN (Australian Business Number) to run any business, and you can apply for one free on the ABR website. As for GST, you’re only required to register once your annual turnover hits $75,000. If you’re just starting out and your revenue is below that, GST registration is optional. That said, having an ABN doesn’t automatically mean you’re registered for GST — they’re separate. Some new sellers register for GST early so they can claim back GST credits on their business expenses like software, ads, and shipping. Once you are GST registered, you’ll need to lodge BAS statements each quarter. I’d suggest starting with just the ABN and registering for GST once your revenue starts growing.