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GST: How It Works
Goods and Services Tax can sometimes seen complicated, especially to those who have never encountered it before. This website has been created as a GST resource that will hopefully answer some of you GST questions.
As a quick introduction, GST is 10% tax that you must pay on goods and services and other items that you have sold or consumed in Australia. GST registered businesses will usually include GST in the price of the goods or services they sell, which they can then claim credits for. All business whose GST turnover exceeds $75,000 must register. Businesses are also entitled to a refund if their credits for GST exceed what they have paid.
The following content looks at GST on a range of different items, GST concessions, GST adjustments, special rules and FTL penalties.
- A 10 point guide to GST
- Non-taxable & GST free supplies
- Special rules and concessions
- What are taxable supplies
- Pro bono service
- Gifts, donations, tips & stolen property
- Redeemable Vouchers
- Late Business Activity Statements (BAS) Penalties
Our dedicated team can assist you with all your accounting and GST related matters. Complete and submit the Express Enquiry form on the top right hand side of this page and we will contact you to discuss your enquiry or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.
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The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.