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  • GST and other taxes

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    This chapter provides a general description of the GST, WET and LCT. It reports liabilities incurred during the 2006-07 and 2007-08 financial years, as reported on business activity statements and other forms.

    GST is a tax of 10% on the supply of most goods and services and other taxable supplies (for example, real property and rights) in Australia, including items that are imported. In most cases, GST does not apply to exports of goods or services, or other items consumed outside Australia.

    GST is administered by the ATO on behalf of the Australian Government, and is appropriated to the states and territories. The Australian Government funds the ATO to administer GST, and is reimbursed by the states and territories. The Australian Customs Service (Customs) collects GST on taxable importations that are not subject to the deferred GST scheme.

    OVERVIEW

    For the 2007-08 financial year:

    • total net goods and services tax (GST) liabilities (including Customs collections) were $41.8 billion, an increase of 5.3% from 2006-07
    • wine equalisation tax (WET) liabilities (including Customs collections) were $644 million, a decrease of less than one percent from 2006-07, and
    • luxury car tax (LCT) liabilities (including Customs collections) were $447 million, an increase of 20.4% from 2006-07.
     
      Last modified: 18 Mar 2009QC 21490