GST Articles

Contents Monthly GST reporting Quarterly GST reporting Annual GST reporting Reporting and paying Goods and Services Tax (GST) is determined by your GST turnover and will fall under one of three cycles: Monthly Cycle: If your GST turnover is $20 million or more, you...

Contents Tax invoices for sales under $1,000 Tax invoices for sales above $1,000 Issuing tax invoices with taxable and non-taxable items Digital invoicing options: einvoicing and PDF Rounding rules for GST calculations on tax invoices Tax invoices in agency...

Contents Claiming input tax credits Apportioning input tax credits for business and private use Tax invoice requirements for claiming input tax credits Situations where input tax credits cannot be claimed Special rules for specific input tax credit claims Claiming...

Registration for Goods and Services Tax (GST) in Australia is not mandatory for all businesses or enterprises. However, failing to register when required can lead to penalties.The following information outlines the circumstances under which GST registration is...

Contents Main GST free products and services Exports of goods Other exports Sale of a business as a going concern Main GST free products and services Most basic foods, some education courses and some medical, health and care products and services are GST free, often...

Contents What are taxable supplies? Paying GST on taxable supplies Partly taxable supplies Capital assets Sales for payment Sales while operating your business Sales connected with Australia What are taxable supplies? If you are registered for GST or required to be,...

Contents What is an enterprise? Traps with residential property Traps with new residential units Traps with vendor finance The first issue to be resolved with any sale of real estate is whether there is a GST liability. If there is, and none is collected from the...

Contents GST overview GST examples The basic GST rule GST registration GST reporting GST input tax credits GST and supplies GST accounting Related articles GST overview GST is ultimately paid by the end user at a certain rate on the supply of most goods and services....

Contents GST liability Taxable supplies Conditions to satisfy GST timing issues Cessation of registration Pitfalls to be aware of GST liability There is only a liability for GST where: an enterprise is being carried on, the annual turnover is at least $75,000...

Contents Application and restriction Agreement and impact on purchasers Calculation and adjustments Subdivided land, strat title units and amalgamated land Valuation Application and restrictionApplication The margin scheme is available on a taxable supply of real...