Published Date: 12 Oct 2023
The GST is a broad-based tax imposed on all entities that carry on enterprises with an annual turnover above a certain level or otherwise elect to register for GST. Unlike other taxes, such as income tax, there is no exemption for charities or not-for-profit bodies. Accordingly, charities and not-for-profits that are required to, or choose to, register, lodge regular activity statements, pay GST, claim input tax credits and issue tax invoices. This article outlines the basic rules of the GST and illustrates the various concessions and exemptions that are designed to alleviate the burden of GST on charities and not-forprofits with respect to certain aspects of their activities. These concessions and exemptions may assist charities and not-for-profits in structuring their affairs so as to minimise the impact of the GST.
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