Beginners Guide to GST in Australia Quiz

What is the GST rate currently in Australia?

• 5%

• 12%

• 15%

• 10%

When must a business register for GST?

• When turnover is $100,000 or more

• When turnover is $50,000 or more

• When turnover is $75,000 or more

• When turnover is $150,000 or more

Which type of drivers must register for GST regardless of turnover?

• Taxi drivers

• Truck drivers

• Train drivers

• Bus drivers

How often must businesses with a turnover greater than $20 million lodge their BAS?

• Biannually

• Monthly

• Quarterly

• Annually

What is the threshold turnover for not-for-profit organisations to register for GST?

• $100,000

• $200,000

• $75,000

• $150,000

What must be included on a tax invoice for sales of $1,000 or more?

• Buyer's personal address

• Buyer's phone number

• Seller's personal address

• Buyer's name and ABN

What is the maximum period to provide a tax invoice after a customer's request if not provided at the time of sale?

• 28 days

• 14 days

• 7 days

• 30 days

What can you claim if there's no GST credit for a purchase?

• Income tax deduction for the gross amount

• Income tax deduction for the net amount

• Full GST credit

• Partial GST credit

Where can you register for GST online?

• Australian Business Register website

• Australian Tax Office direct line

• Local tax office

• Post office