ATO Websites: Guide to GST (overview) | GST Essentials (detailed info)

Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.

Companies registered for GST both charge GST in their invoices, and pay GST for their goods and services. At the end of the tax period, the company would remit to the ATO the net amount of GST collected less the GST paid.

The University as a registered enterprise is required to pay the Australia Taxation Office (ATO)  1/11 of all considerations received (cash or kind) for providing any supply in the furtherance of the enterprise unless that supply is GST Free or Input Taxed or out of scope of GST.

There are three different types of supply for GST purposes:

•Taxable supply
•GST-free supply
•Input taxed supply

For more information please contact Shanthan Ponniah on ext.2264.