020-004 - GST Terminology

Includes definitions for the common terms relating to GST that a small/medium enterprise operator or team member may encounter in their work.

The paper is presented with definitions for:

1. "GST Terminologies Introduction"
   2."Accruals Basis"
   3.“Acquire”
   4.“Adjustments”
   5.“Adjustment Note”
   6."Agent"
   7.“Annual Turnover”
   8."Annual Turnover - Current"
   9."Annual Turnover - Projected"
   10."Anti Avoidance"
   11.“Australian Business Number (ABN)”
   12.“Business Activity Statement”
   13."Business Norms Method"
   14.“Consideration”
   15.“Consumers”
   16.“Company Groups”
   17."Creditable Acquisition"
   18."Creditable Purpose"
   19."Creditable Purpose Change"
   20.“Enterprise”
   21.“Entity”
   22.“Export”
   23."Financial Supply"
   24.“Forfeited Lay By Sales”
   25."Gambling Supply"
   26."Going Concern"
   27.“Group”
   28."GST"
   29."GST Credit"
   30.“GST Free“
   31."GST Exclusive Price"
   32."GST Payable"
   33.“How Do You Register For GST?”
   34.“How Does GST Work?”
   35.“Input Taxed”
   36."Input Tax"
   37.“Input Tax Credits”
   38.“Make a Supply”
   39."Margin Scheme"
   40.“Monthly Tax Periods”
   41."Net Amount"
   42."Non Profit Sub Entity"
   43.“Prescribed Tax Invoices”
   44."Purchases Snap Shot Method"
   45.“Quarterly Tax Periods”
   46."Recipient Created Tax Invoice"
   47."Refunds"
   48."Refunds - Tourists"
   49."Registration For GST"
   50."Representative Member"
   51."Residential Premises"
   52."Residential Rent"
   53."Sales Percentage Method"
   54."Sales Tax"
   55."Secondhand Goods"
   56."Simplified GST Accounting For Small Businesses"
   57."Snapshot Method"
   58."Stock Purchase Method"
   59.“Supplies”
   60."Tax Period Turnover Threshold"
   61.“Taxable Supplies”
   62.“Tax Invoice”
   63.“Tax Period”
   64."Tourist Refund Scheme (TRS)"
   65.“Wine Equalisation Tax (WET)"