GST (Goods and Services Tax)
GST is the 10% consumption tax collected on most goods and services in Australia. Builders must register once annual turnover hits $75,000.
Ask Chalkline about this →GST (Goods and Services Tax) is a 10% broad-based consumption tax applied to most goods and services supplied in Australia, established under the A New Tax System (Goods and Services Tax) Act 1999 (Cth). GST-registered businesses collect the tax from their clients, then remit it to the ATO via their Business Activity Statement (BAS), offsetting it against the GST they paid on their own purchases (GST credits).
Residential builders must register for GST once their annual GST turnover reaches $75,000. Registration is compulsory and must happen within 21 days of crossing the threshold. GST equals 1/11th of the GST-inclusive price, or 10% added to the ex-GST price. New residential premises are generally a taxable supply; the margin scheme may apply on property sales.
Also known as: Goods and Services Tax
Category: Tax
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Last updated: 2026-05-10. Verified: 2026-05-10. Quarterly review for currency.