Im running electrical for a mini split which requires a 240 line and there has to be a GFCI outlet near by so I'm running that too. The only way to get it there is through conduit (not buried) so I want to run both lines from the panel to the location and then probably a junction box to split them outside. Everything I've read says this is fine as long as I don't go over the capacity of the conduit which I'll probably do 1" for future proofing. Any issues, can they share a ground?
There should be no problem doing what you want, as long as all the conductors and overcurrent devices are sized properly. As per National Electrical Code, you'll size the equipment grounding conductor (EGC) based on the largest overcurrent device used. Which means the EGC will likely be sized based on the size of the breaker protecting the 240 volt circuit.
National Electrical Code 2014
Chapter 2 Wiring and Protection
Article 250 Grounding and Bonding
250.122 Size of Equipment Grounding Conductors.
(C) Multiple Circuits. Where a single equipment grounding conductor is run with multiple circuits in the same raceway, cable, or cable tray, it shall be sized for the largest overcurrent device protecting conductors in the raceway, cable, or cable tray. Equipment grounding conductors installed in cable trays shall meet the minimum requirements of 392.10(B)(l)(c).