left column

Home Page
Webcharts
Investments Online
Overnight Markets
Editorials
Newsletters
Bookshop
Calculators
Financial Category Links
Find a Professional:


Investor Links:


Site Disclaimer
Click here to make AFSD your homepage
AFSD offers the following web
site design and marketing services:
Website Develop.
Banner Advertising
Contact Us!

Financial Bookshop
Visit Australia's
largest online financial bookshop ...
Book of the Week
Click here to enter
the bookshop!

Your Listing:
Click here to add
or update your
company's listing.

Your Comments:
We welcome your feedback! Please
let us know if there
are any additions or
changes you would
like to see made to
this service.

Report Broken Links

Click here to make AFSD your homepage
Australian Financial Services Directory
Please click on the banner advertisement below to visit our sponsor!


                     GST Australia
                                 Summary ...

A GST rate of 10% will be charged on most goods and services consumed in Australia. If you are registered for GST, you need to include GST in the price you charge your customers for goods and services they purchase from you (called sales). However, you will be able to claim a credit for the GST you have paid on your business expenses and other inputs (called a GST credit). You have to pay the difference between GST charged on sales and GST credits to the Tax Office periodically.

There are two types of sales which will be treated differently ...

1. Suppliers of GST-free goods and services will not have to pay GST when they make a sale but they will be entitled to GST credits.

2. Suppliers of input taxed goods and services do not have to charge GST on sales but they will not be entitled to claim GST credits from their purchases of inputs. Australian GST Questions & Answers

Please click on the banner advertisement below to visit our sponsor!

No# Question ...
01 Will GST apply to me?
02 Exactly what sales does GST affect?
03 What goods and services are GST free?
04 Do I charge tax when I sell Input taxed goods and services?
05 What if GST does not apply to me?
06 Can I get GST credits for my purchases?
07 Do I have to pay GST on sales of goods on which I have already paid sales tax?
08 How do I account for GST?
09 What changes do I need to make to my accounting system?
10 How often do I have to pay GST to the Tax Office?
11 What paperwork do I need to complete?
12 Are there any other administrative or procedural issues I should address?
13 What are the impacts of GST on the cost structure of our products?
14 Do I need to change the price of the goods and services I sell?
15 What will happen to my sales levels in the months on either side of July 2000?
16 If I account for GST on a cash basis, will I have cashflow issues?
17 What options do I have if I think that I am going to have cashflow problems?
18 I want to invest in capital equipment. Should I buy now or wait until the GST is introduced?
19 What about other non capital purchases?
20 Are there transitional rules that affect my operations?
Please click on the banner advertisement below to visit our sponsor!

© Copyright 1999 Schmidt Chartered Accountants. This publication is based on information available to Schmidt Chartered Accountants at the time of publication and is for general information purposes and should not be acted upon unless supported by specific advice.

AFSD
Disclaimer Notice