ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: shooterblitz on October 02, 2013, 01:18:56 pm

Title: Difference between Sales Tax and GST?
Post by: shooterblitz on October 02, 2013, 01:18:56 pm

Just going through some budgetary policy content, and probably have over complicated by thinking about this, but is the sales tax and GST the same or is there a difference?

Title: Re: Difference between Sales Tax and GST?
Post by: chasej on October 02, 2013, 03:10:34 pm

Quote from: shootersid on October 02, 2013, 01:18:56 pm

Just going through some budgetary policy content, and probably have over complicated by thinking about this, but is the sales tax and GST the same or is there a difference?

A sales tax is a tax paid to a governing body for the sales of certain goods and services. Normally indirect.

Basically the GST is a type of sales tax.
GST is not the only sales tax though in Australia though, we have excise taxes etc. Which are also types of sales taxes.

Title: Re: Difference between Sales Tax and GST?
Post by: sam.utute on October 04, 2013, 12:03:38 pm

GST is reported separately for a number of reasons, including the fact the public doesn't know that we have other sales taxes, the State governments are "entitled" to receive GST collections etc.