The Goods and Services Tax (GST) is a 10% tax on most goods, services, and other items sold or consumed in Australia. Businesses must register for GST when their annual turnover reaches or exceeds $75,000 (or $150,000 for non-profit organizations). New businesses projecting to reach the threshold in their first year must also register. Taxi and ride-sharing services, as well as businesses wanting to claim fuel tax credits, must register regardless of turnover. Businesses below the threshold can choose to register voluntarily, but must generally stay registered for at least 12 months. GST registration requires an Australian Business Number (ABN) and must be completed within 21 days of reaching or expecting to reach the threshold.
Source VATai
See also
- VATupdate.com Country VAT Facts
- VAT Country guides of the European Union Countries
- Country VAT guides for other countries
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