Bawabetna in Australia

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Business rules in Australia included in your program

Bawabetna summaries of official publications, each linked to its source. The official text prevails.

Goods and services tax (GST)

GST is a tax of 10% on most goods, services and other items sold or consumed in Australia; a registered business collects one-eleventh of the sale price and pays it to the Australian Taxation Office. Registration is required with a GST turnover of AUD 75,000 or more (150,000 for non-profit organisations), within 21 days of becoming aware of exceeding the threshold; below it, registration is optional. Reference: Australian Government, business.gov.au.

Official source

Company tax

The full company tax rate is 30% and the lower rate is 25% for a base rate entity: aggregated turnover below AUD 50 million, and 80% or less of assessable income being base rate entity passive income (for example interest, dividends or rent). Reference: Australian Government, business.gov.au.

Official source