Search results

This resource has been developed to help owner builders understand the [goods and services tax] GST, with particular reference to how it applies in the building and construction industry. It starts with a simple cartoon scenario and then uses this basic situation to introduce different aspects of the GST, including calculating how much the GST is and reporting to the Tax Office. The resource is easy to navigate, includes a glossary of terms and has a voice over for most of the information and instructions. You can jump to the different sections you are interested in, and have access to a calculator whenever you need it. Later topics are quite complex and refer to things like 'input tax credits' and the 'Margin Scheme'. The maths required here is not for the beginner, but even for those with maths phobia it provides useful background which should allow you to have an intelligent conversation with your accountant on the matter! The resource includes links to the ATO website and other helpful sites and should be a useful tool for those who want at least a passing understanding of how the GST operates in this industry.