Turnover dropped, or you’re closing the business — here’s the actual process, what you owe on the way out, and whether you can register again later.
Last updated: June 2026
You can apply to cancel your GST registration if your GST turnover is genuinely expected to be below A$75,000 for the next 12 months, if you’re closing the business entirely, or if you were only ever required to register for a specific reason (like the taxi travel rules) that no longer applies. Note that if you’re registered specifically because you provide taxi travel services, you generally cannot cancel while you continue to provide that service, regardless of turnover.
Cancellation is normally done online through the ATO’s Business Portal, myGov (for sole traders), or via your registered tax or BAS agent. You’ll need to specify your effective cancellation date and confirm your reason. The ATO will process the cancellation and confirm your final BAS obligations.
You must lodge one final BAS covering the period up to your cancellation date, and you may need to account for GST on business assets you still hold if you claimed GST credits on them when you bought them — similar to how GST-registered businesses adjust for assets retained at deregistration in many countries.
Yes — cancelling isn’t permanent. If your turnover picks back up and crosses A$75,000 again, or you simply want to re-register voluntarily, you go through the normal registration process again using your existing ABN.
No, cancellation is optional in this scenario — you can remain registered even with lower turnover if it still benefits you, such as claiming GST credits or dealing mainly with GST-registered customers.
Not while they continue providing taxi travel services — that registration requirement exists regardless of turnover and doesn’t lift until you actually stop driving for fares.
If you claimed GST credits on business assets you still hold, you may need to make an adjustment reflecting their value at cancellation, similar to accounting for GST on retained stock.
The ATO typically processes online cancellation requests within a few business days to a couple of weeks, with confirmation provided through the Business Portal or myGov.
Yes, your ABN remains yours regardless of GST registration status — only the GST registration itself is cancelled and can be reinstated separately.
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