Tax basics for small business

How GST works

Terms we use In this section, when we say: GST credit, we mean the GST term input tax credit sell or sale, we mean the GST term supply - this term includes a sale or supply of goods, lease of premises, hire of equipment, giving of advice, export of goods and supply of other things buy or purchase, we mean the GST term acquire or acquisition - this term includes an acquisition of goods or services such as trading stock, a lease, consumables and other things payment, we mean the GST term consideration.

GST is a 10% tax on most goods and services sold in Australia. It is collected by registered businesses at each step in the supply chain.

If you are registered for GST, you send the GST you collect (less GST credits you can claim) to us monthly, quarterly or annually, if you are eligible.

For more information about if you must be registered for GST, see Working out if you need to register for GST.

Sections within How GST works

• GST credits
• GST sales and purchases
• Special GST rules
• Tax invoices
• Reporting GST
• GST summary