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Your client is Shannon Johnstone. After two years of testing the...

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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