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Goods & Services Tax

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GST is a tax on the supply of goods and services in Australia by a registered person on any taxable activity they carry out. The rate for GST is 10% although it can be zero-rated for exports.

The relevant basic guide can be found at:

Certain supplies of goods and services are “exempt supplies”. These include:

  • Certain financial services
  • Sale or lease of residential properties
  • Wages/Salaries and most Directors Fees
  • GST registration is required if the annual turnover of the business for a 12-month period exceeds or is expected to exceed $75,000

If your turnover exceeds $2,000,000 pa you must file your GST return monthly.

There are two methods of accounting for GST:

  • Cash
  • Accrual

If your turnover exceeds $2,000,000 pa you must use the accrual basis.

If you are selling or are thinking of selling your products through your website please also refer to our section on GST and E-commerce

For more information on GST see the GST section of the ATO website.