What is a supply?GST comes into play when a supply is made, which covers a multitude of situations e.g.
A supply has the following characteristics:
Supplies fall into three broad bands:
The majority of educational courses supplied by the University will be GST free.
We have provided an easy to use table to help determine whether a supply is taxable, GST-free or input taxed.
What is an acquisition?The ability to claim GST credits hinges on whether a creditable acquisition has been made. Such an acquisition must:
In order to claim a GST credit for an acquisition over $50 [$55 inclusive of GST] it is necessary to be in position of a valid tax invoice. For acquisitions of less than $50, the ATO have relaxed the legislation and GST credits can be claimed on acquisitions that are normally taxable supplies even if no tax invoice available.