RSG Accountants ensures our qualified and experienced team remains up to date with any changes and are here to provide advice to you no matter what your GST query.

We can prepare and lodge your Business Activity Statements for you:

• Monthly
• Quarterly
• Annually

Registered businesses need to pay GST on most goods and services sold or supplied. Registered businesses will include GST in the price of items you purchase. You may be entitled to claim input tax credits from the ATO if you are registered for GST and the acquisitions are obtained for the purpose of carrying on your enterprise. Although the liability for paying GST rests with GST-registered entities, the end consumer bears the economic cost.

GST (goods and services tax) is ultimately paid by the end user at a certain rate on the supply of most goods and services.

It is implemented by the collection of the tax at each step along a chain of transactions involving the supply of goods or services until the end user is reached.  To prevent the cascading, a credit is provided for the tax paid along the chain until the end user is reached.

In Australia, the GST rate is 10% and is imposed on the supply of goods and services in Australia and on goods imported into Australia – these are referred to as the making of “taxable supplies” and “taxable importations”.

The entity making the taxable supply is liable to pay the GST to the ATO but generally collects it from the customer.

The GST is 10% of the value of the supply.