8 Questions
Which of the following goods and services are exempt from GST in Australia?
Medicines and medical services
What is the GST rate in Australia?
10%
When is a nonprofit organization required to register for GST in Australia?
When their annual turnover is $150,000 or more
Who is required to register for GST within 21 days in Australia?
Any business with an annual turnover of $75,000 or more
What is the purpose of claiming credits for GST in Australia?
To recover the GST paid on goods and services purchased for the business
Which statement is true about claiming GST credits for purchases used for both business and private use?
You can only claim a GST credit for the part of the purchase relating to your intended business use.
Which of the following is true about lodging and paying your Business Activity Statement (BAS) in Australia?
You must lodge and pay your BAS quarterly.
Is it necessary to lodge a nil statement for your Business Activity Statement (BAS) if you have nothing to report?
Yes, you must lodge a nil statement even if you have nothing to report.
Test your knowledge on how Goods and Services Tax (GST) works in Australia. Learn about the registration process, pricing, and claiming credits for businesses and organizations. Find out when and how to get registered for GST.
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