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  • GST and other taxes

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    This chapter provides information about the GST, WET and LCT. It reports liabilities incurred for the 2010-11 and 2011-12 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 goods that are imported. In most cases, GST does not apply to exports of goods or services, or other items consumed outside Australia.

    GST revenue is appropriated to the states and territories. The Australian Government funds the ATO to administer the 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.

    Attention

    Overview

    For the 2011-12 financial year:

    • total net goods and services tax (GST) liabilities (including Customs collections) were $46.8 billion, an increase of 1.7% from 2010-11
    • wine equalisation tax (WET) liabilities (including Customs collections) were $729 million, a decrease of 1.5% from 2010-11

    luxury car tax (LCT) liabilities (including Customs collections) were $441 million, a decrease of 7.9% from 2010-11.

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      Last modified: 03 Mar 2014QC 33846