Question 1

What is the current GST rate in Australia?

Accepted Answer

The standard GST rate in Australia is 10%. This 10% rate applies to the majority of transactions involving goods and services in Australia.

Question 2

What are some examples of goods and services charged at 0% GST?

Accepted Answer

Some categories charged at 0% GST include most fresh food, health services, education, childcare, and exports.

Question 3

When do businesses need to register for GST in Australia?

Accepted Answer

Businesses or organizations with over $75,000 in annual turnover must register for GST in Australia. Those with turnover under $75,000 can choose to register voluntarily.

Question 4

How often do businesses submit GST reporting and payments?

Accepted Answer

GST reporting periods are quarterly for higher turnover businesses, monthly for medium turnover, or annually for low turnover. Due dates are the 21st or 28th of the month depending on the situation.

Question 5

Can tourists get a refund of GST paid on purchases in Australia?

Accepted Answer

Yes, the Tourist Refund Scheme allows visitors to Australia to claim a refund of GST paid on goods valued over $300 taken home in carry-on luggage.

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