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Goods and Services Tax

The Goods and Services Tax (GST) is a consumption tax that apply to the supply of most goods and services, at a rate 10 percent of the price charged for taxable goods and services.

GST is not an additional tax on business, but the understanding of the concepts is essential for businesses.

The design of GST is to tax private final consumers on the supply of goods and services in Australia. Therefore, it is only a temporary cost to businesses. Most transactions between businesses will involve GST, but every time you business incurs an expense that includes GST, you may claim the GST component back (input tax credits).