What is GST?
GST stands for goods and services tax. It is an Australian tax imposed on the supply or import of goods, services and other things. Some other countries apart from Australia also impose a GST, such as Canada, Singapore and New Zealand. In other parts of the world, the equivalent tax is generally called either value added tax, more commonly known as VAT, or consumption tax.
Is my business paying GST?
If representatives of your business travel to Australia, then your business is paying GST. Australian hotel bills, restaurant meals, taxi fares and telephone calls all include GST. If your business imports goods or services from Australia, there may be GST charged on these things. Take a look at the relevant invoice and it will clearly state if GST is included in the total price.
Is my business eligible to claim a refund of GST?
If you are carrying on a business and your purchases are for the purpose of carrying on that business, then you are eligible to claim a refund of GST. Certain Australian businesses, such as banks and other providers of financial services, are largely excluded from claiming GST refunds. However, these restrictions generally do not apply to businesses outside of Australia.
Can my business only claim back GST on certain expenses?
If your business is located outside of Australia, there are few restrictions on the expenses in respect of which you can claim back GST. The most important factor is that the expense was incurred for the purpose of carrying on your business. On the other hand, if the relevant goods or services were acquired for a non-business purpose, such as entertainment or private consumption, then there is no entitlement to a GST refund. Ask us for more details.
How does my business claim a refund of GST?
To claim a refund of GST, your business must be registered for GST purposes, hold original tax invoices as proof of payment of GST and lodge one or more GST returns. To be registered for GST purposes, businesses located outside of Australia are required to provide more information and documentation to the Australian Taxation Office compared to their Australian counterparts.
What service does EasyGSTrefunds provide?
EasyGSTrefunds will arrange for your business to be registered for GST and for GST returns to be lodged on your behalf. These services are provided by registered tax professionals.
Why use EasyGSTrefunds?
EasyGSTrefunds are the GST specialists. Our mission is to make GST refunds easy for your business. We are the leading niche provider in our field, arranging for GST refund services to be provided to businesses in all parts of the globe.
What does EasyGSTrefunds charge?
No refund, no fee. We charge a flat rate of commission which is deducted from your GST refund.
What is a tax invoice?
A tax invoice is a special form of invoice which indicates that GST has been included in the price of a purchase. Words to this effect must be set out on a tax invoice, as well as other details such as the Australian Business Number ("ABN") of the Australian supplier. To be entitled to claim a refund of GST, your business must hold the relevant tax invoice.
My business paid GST a few years ago; can it still be claimed back?
Your business has four years in which to claim back a refund of the GST it has paid. Why wait? Contact EasyGSTrefunds now. (An entitlement to a refund more than four years old can only be used to offset a GST liability.)
How much GST is my business paying?
To find out how much GST your business is paying, you can use our GST calculator. GST is currently imposed at 10%. As an example, if your purchase of Australian services is subject to GST and the value of those services is $100, GST will be added to increase the price payable by $10 to a total of $110. Out of the total price of $110, GST of $10 is payable. Hence, the GST fraction of the total price is one eleventh.
How soon will my GST refund arrive?
The Australian Taxation Office has a "taxpayers charter" under which it promises to make payments of refunds within two weeks of all the relevant information for registration and returns having been provided. However, realistically, the payment process usually takes six to eight weeks counting from the date when your business is registered and returns have been lodged.
What is an ABN? What is an ITC? What is ANTS? What are RITCs? What is an adjustment note?
Australian's GST involves a lot of specialist terminology. Our glossary may help.
If you have a specific query that is not answered here or would like clarification, please contact us.