Goods and Services Tax Case Study - Tax Law Assignment Help

Assignment Task

Part A

Your client is Shannon Johnstone. After two years of testing the heating and cooling mats he developed for dogs, Shannon registered the business name ‘Warm or Frosty Pet Mats’ on 1 July 2020. Shannon projects his sales for the year ended 30 June 2021, excluding GST, to be the following:

• Sales to pet stores and vet clinics in Australia, $70,000;
• Export sales to pet stores and vet clinics in New Zealand, $12,000.

REQUIRED:

i) Based on the projected sales, advise Shannon Johnstone whether he was required to register for GST on 1 July 2020.

ii) Explain why a business would voluntarily elect to register for GST where the projected turnover is less than the registration threshold

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