What is GST (Goods and Services Tax)?

Modified on Fri, 31 Jan 2014 at 01:18 PM

The GST (Goods and Services Tax) is a value added tax of 10% on most goods and services transactions in Australia. Certain taxes and government charges, such as stamp duty, may be payable in relation to insurance policies, which is calculated as a percentage of gross premium available to each policy. GST and stamp duty is taken by us and paid over to the Australian Tax Office (ATO).

The terms GST, input tax credit, acquisition and supply have the meanings ascribed to them in the A New Tax System (Goods and Services Tax) Act 1999.

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