10 Questions
Which date was the Goods and Services Tax (GST) introduced in Australia?
1 July 2000
What is the rate of the Goods and Services Tax (GST) in Australia?
10%
What is the Goods and Services Tax (GST) considered to be in Australia?
A transaction-based tax
What is the legislative reference for the Goods and Services Tax (GST) in Australia?
A New Tax System Act 1999
What do registered entities do in relation to the Goods and Services Tax (GST) in Australia?
Collect the GST on supplies they make
What is the purpose of the Goods and Services Tax (GST) in Australia?
The purpose of the GST in Australia is to apply a 10% tax on most goods, services, and importations consumed in the country.
When was the Goods and Services Tax (GST) introduced in Australia?
The GST was introduced in Australia on July 1, 2000.
What type of tax was repealed when the GST was introduced in Australia?
The introduction of the GST in Australia coincided with the repeal of a wholesale sales tax that had been levied since 1930.
Who collects the GST on supplies in Australia?
Registered entities collect the GST on supplies they make in Australia.
How is the Goods and Services Tax (GST) in Australia described?
The GST in Australia is described as a transaction-based tax or a consumption tax.
Test your knowledge on the principles of GST, including taxable supply, creditable acquisitions, input tax credits, input taxed supplies, and GST-free supplies in Australia.
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