What are the GST (good and services tax) features?
The GST Laws are quite substantial, but the general features would be that most goods and services in Australia carry a 10% GST, meaning that a good or service that a business supplies for say $100 has a GST amount of $10, so you end up paying $110. The business is then required to submit the $10 to the ATO. The GST ends up being a tax on the end consumer as businesses are able to claim back the GST they have paid on their expenses to offset the GST they have collected. Some goods and services are free of GST such as food items and medical services to name just 2.
