Buy custom Should Australia Introduce Any Tax Or Gst Changes?
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Tax is collected at each stage of production and distribution, but a credit is given for the GST on inputs. Refunds are given for GST on exports. Therefore, only households bear this tax. Australia currently has a WST in place of a GST. WST is whole sales tax this tax is levied on the whole sale price and is collected by wholesalers...
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A GST is in fact a VAT-value added tax. Meaning it is levied at each stage of production and distribution. Over one hundred countries in the world have a GST/VAT, but only six nations including Australia have a WST.
The advantages and disadvantages of a GST
It is hard to say whether the GST is favorable or adverse because the government hasn't yet proposed the whole system, the exemptions and the exact figures of taxation...
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