Goods and Services Tax (Australia)
E729702
Goods and Services Tax (Australia) is a broad-based value-added tax introduced in 2000 that applies to most goods and services consumed in Australia.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
indirect tax
ⓘ
value-added tax ⓘ |
| administeredBy | Australian Taxation Office NERFINISHED ⓘ |
| alsoKnownAs |
Australian GST
NERFINISHED
ⓘ
GST NERFINISHED ⓘ |
| appliesInJurisdiction | Commonwealth of Australia NERFINISHED ⓘ |
| appliesTo |
imports into Australia
ⓘ
most goods consumed in Australia ⓘ most services consumed in Australia ⓘ |
| calculationMethod | value-added basis ⓘ |
| collectionMethod | collected by registered businesses ⓘ |
| constitutionalBasis | Commonwealth taxation power ⓘ |
| country | Australia ⓘ |
| doesNotApplyTo |
education services (largely)
ⓘ
financial supplies (input taxed) ⓘ health services (largely) ⓘ most basic food ⓘ residential rents ⓘ |
| economicIncidence | borne largely by final consumers ⓘ |
| effectiveFrom | 2000-07-01 ⓘ |
| hasCategory |
2000 introductions in Australia
ⓘ
Taxation in Australia ⓘ Value added taxes ⓘ |
| introducedBy | Howard Government NERFINISHED ⓘ |
| introducedOn | 2000-07-01 ⓘ |
| introducedUnderPrimeMinister | John Howard NERFINISHED ⓘ |
| introducedUnderTreasurer | Peter Costello NERFINISHED ⓘ |
| involves |
input tax credits
ⓘ
tax invoices ⓘ |
| isBroadBased | true ⓘ |
| isDestinationBased | true ⓘ |
| isMultiStage | true ⓘ |
| legalName | A New Tax System (Goods and Services Tax) Act 1999 scheme NERFINISHED ⓘ |
| legislatedBy | Parliament of Australia NERFINISHED ⓘ |
| partOf | Australian tax system ⓘ |
| policyObjective |
broaden tax base
ⓘ
replace inefficient indirect taxes ⓘ |
| primaryLegislation | A New Tax System (Goods and Services Tax) Act 1999 NERFINISHED ⓘ |
| registrationRequiredFor | businesses above turnover threshold ⓘ |
| replaced |
Wholesale Sales Tax (Australia)
NERFINISHED
ⓘ
various state and territory financial taxes (in part) ⓘ |
| reportedVia | Business Activity Statement NERFINISHED ⓘ |
| revenueSharing | distributed to Australian states and territories ⓘ |
| standardRate | 10% ⓘ |
| standardRateSince | 2000-07-01 ⓘ |
| taxBase | final private consumption ⓘ |
| taxType | broad-based consumption tax ⓘ |
| zeroRatedFor | exports from Australia ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.