A Sydney electrician finishes a $4,400 commercial fit-out in late June, banks the cash and notices the rolling 12-month figure has just hit $77,000 for the first time. Twenty-one days later, GST registration is supposed to be live. Most tradies don’t notice the threshold until they cross it; the ones who do plan ahead avoid … Read more
Most Australian small businesses get a $75,000 head-start before GST registration kicks in. Uber drivers don’t. From the moment you accept your first trip, you’re a GST-registered business with quarterly BAS obligations, a logbook to keep and a separate bank account to set up. The good news: every petrol receipt, every car wash and every … Read more
Most Australian Airbnb hosts go their entire hosting career without charging GST on a single nightly rate. A small minority should register from day one and lodge BAS quarterly. The trick is knowing which group you’re in before your first guest checks in, because moving between groups midway costs accountant fees and refund paperwork nobody … Read more
If a price tag at JB Hi-Fi shows $99, you pay $99 at the register. If a tradie’s quote on the kitchen table shows $99, you might pay $108.90 by the time the invoice lands. The difference between those two outcomes is one word: inclusive or exclusive.If a price tag at JB Hi-Fi shows $99, … Read more
Two formulas cover almost every GST calculation in Australia. A third covers the property margin scheme. Once those three are mental shorthand, the rest is bookkeeping. While mastering the GST formula is crucial, it’s equally important to understand the broader context of GST in Australia, including its history and key principles. While most GST calculations … Read more
Australians have paid 10% GST on most of what they buy for over 25 years now – the morning coffee, the power bill, a half-decent pair of headphones, the kids’ winter jackets at Target. The rate has not budged since the day it switched on at 12.01 am on 1 July 2000, and at the … Read more
GST is one-eleventh of the inclusive total, not one-tenth. That single fact catches more sole traders out than any other number on the BAS, and it’s where every accurate GST calculation starts.While GST calculations are straightforward for most businesses, Airbnb hosts face unique challenges. For a detailed guide on navigating these complexities, check out GST … Read more
Australians paid around $85 billion in GST in the 2023–24 financial year. The rate behind that figure is 10%, applied to most goods and services. And it hasn’t moved since the day GST started on 1 July 2000. So when you see a price at Coles, Bunnings or JB Hi-Fi, the 10% is already baked … Read more
Calculating GST in Australia is two formulas, three steps and one preliminary question: are you starting from a price that already has GST in it, or one that doesn’t? Multiply by 1.1 to add GST. Divide by 11 to remove it. Get the question right and the maths is simple multiplication or division – get … Read more
GST is Australia’s 10% Goods and Services Tax. It’s a broad-based consumption tax applied to most goods and services sold or consumed in Australia, charged at the point of sale and ultimately paid by the end consumer. Businesses with turnover above $75,000 must register, collect GST on what they sell, claim credits on what they … Read more
