What is GST (Goods & Services Tax)?
Finance & accounting. A plain-English definition for Australian business owners.
GST is Australia's 10% value-added tax applied to most goods and services.
Businesses with annual turnover above $75,000 must register for GST; below that threshold, registration is optional. Registered businesses charge GST on taxable sales and claim GST credits on business purchases. Some supplies are GST-free (basic food, education, health services); some are input-taxed (financial services, residential rent). GST liability is reported and paid via the BAS.
In a connected back office this sits with the Finance hub, where Valont runs bookkeeping, managed payroll and bas & tax compliance for Australian SMEs as one team. The full definition set is on the glossary.
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General information, not advice. For how this applies to your business, talk it through with a Trusted Advisor or start with the Business Health Check.