What is GST?

Goods and Service Tax

Goods and Service Tax is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.  GST applies to most businesses that trade in Australia and it's highly likely that your business will be affected by the tax.

 

Businesses that have gross sales greater than A$75,000 in a 12 month period will need to:

  • Register for GST with the Australian Taxation Office (ATO)

  • Charge GST on taxable sales

  • Lodge returns to the ATO

  • Pay the GST to the ATO

 

In the standard system, you charge GST at point of sale, and then pay the GST (less any credits) to the ATO in your GST return

Image by Ibrahim Rifath

Still a bit confused regarding GST?

We get it, taxes are important to get right!