GST

The GST (Goods and Services Tax) system is a value-added tax levied on most goods and services in Australia, collected by the ATO on behalf of the government, and is payable by businesses on the supply of goods and services. Businesses can also claim credits for GST included in their purchases.

When do I Register for GST?

In: ABN, GST, Small Business

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In Australia, businesses with an annual turnover of $75,000 or more are required to register for Goods and Services Tax (GST). If your turnover is less than $75,000, you may still choose to register voluntarily. If you expect your business’s turnover to exceed $75,000 in the next 12 months, youRead More →

What percentage of the GST and expenses am I entitled to claim on my vehicle?

In: GST, Small Business, Tax Deductions

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A question I was recently asked; “Hello Geoff, I have a question about motor vehicle expense claims. We are full-time cereal farmers, recently I purchased a new car for myself, a medium size SUV. I use this car to attend to all the farming matters that I need to doRead More →