The document summarizes key aspects of Australia's indirect tax system including: - The goods and services tax (GST) rate is 10% and applies to most goods and services, while some items like financial supplies and residential rent are input taxed and health and education are GST free. - The GST registration threshold is AUD $75,000 in annual turnover including overseas suppliers, and $150,000 for charities. - Other indirect taxes include payroll tax, land tax, stamp duty, fringe benefits tax, and customs duties on cigarettes, alcohol, luxury cars and fuel. - Special tax concessions are available for research and development as well as technology investors.

1. Australian Indirect Tax Guide
Goods and services tax
Rate on sales 10%
Input taxed supplies Financial supplies, residential rent, used residential premises
GST Free supplies Health, education, exports
GST threshold AUD $75,000 or more including overseas suppliers
Charities are AUD $150,000
Lodgement cycle Quarterly for most. Monthly for turnover in excess of $20m
Under $2m can pay quarterly and report yearly
Customs/excise Cigarettes, alcohol, luxury cars, fuel plus the GST regime
Ineligible GST credits Entertainment, fines and private use assets
GST Exemptions Sale of a going concern. Sale of certain farmland
Input taxed financial institutions can claim 75% of GST credits
New residential property sales might qualify for a margin scheme
Other indirect taxes
Death taxes None (a potential tax applies to superannuation payments)
Payroll tax State based from 4.9% to 6.85% over threshold (lowest is $575,000).
Superannuation 9.5% of wages paid upto a maximum wage of $206,480
Land tax State based tax and varies from 0% to 2.25% of land value yearly
Stamp duty State taxation and varies from 0% to 12.5%.
Fringe benefits tax 49% on the grossed up value of the benefit (31 March onwards is 47%)
Special concessions Research and development recieves a grant of upto 45% cash for R&D Costs
Investors into technology
www.westcourt.com.au
General advice only