Consumption/VAT/Sales Tax in Australia
- Nature of the Tax
- GST : Goods and Services tax
- Standard Rate
- A rate of 10% of Good and Services Tax (GST) is applicable when selling or buying most goods and services in Australia and when importing into Australia (which includes Customs valuation, Customs tax, transport and transport insurance if it is not already included in the Customs valuation).
- Reduced Tax Rate
- Some products and services may be GST free but none are GST reduced.
- Exclusion From Taxation
- Some goods and services are exempt from GST: education, health, children's care, local taxes, water rates in town basic food products and basic medicines; Exports, cost of international journeys and some agricultural supplies are also GST free..
- Method of Calculation, Declaration and Settlement
- The rate is applied on the selling price. In principle, only the final purchaser of the goods or services bears the cost of GST. Companies selling goods or services can deduct GST paid, in the context of purchases, from the GST collected.
- Other Consumption Taxes
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