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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 for the 2007-08 and 2008-09 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 2008-09 financial year:

    • total net goods and services tax (GST) liabilities (including Customs collections) were $41.5 billion, a decrease of less than 1% from 2007-08
    • wine equalisation tax (WET) liabilities (including Customs collections) were $729 million, an increase of 13.2% from 2007-08
    • luxury car tax (LCT) liabilities (including Customs collections) were $376 million, a decrease of 15.9% from 2007-08.
     
      Last modified: 24 Mar 2010QC 22511