Goods And Services Tax (Australia)
The GST (Goods and Services Tax) is a broad sales tax of 10% on most goods and services transactions in Australia. It is a value added tax, not a sales tax, in that it is refunded to all parties in the chain of production other than the final consumer.
It was introduced by the Howard Government on 1 July 2000, replacing the previous Federal wholesale sales tax system and designed to phase out a number of various State and Territory Government taxes, duties and levies such as banking taxes and stamp duty.
Read more about Goods And Services Tax (Australia): Political Impact, Economic and Social Effects, Tourist Refund Scheme, Legal Framework, GST Statistics
Famous quotes containing the words goods, services and/or tax:
“A man hath no better thing under the sun, than to eat, and to drink, and to be merry.”
—Bible: Hebrew Ecclesiastes, 8:15.
Compare with Luke 12:19: “And I will say to my soul, Soul, thou hast much goods laid up for many years; take thine ease, eat, drink, and be merry.”
“Working women today are trying to achieve in the work world what men have achieved all along—but men have always had the help of a woman at home who took care of all the other details of living! Today the working woman is also that woman at home, and without support services in the workplace and a respect for the work women do within and outside the home, the attempt to do both is taking its toll—on women, on men, and on our children.”
—Jeanne Elium (20th century)
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (1844–1900)