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Taxation

Accounting for the GST

The Goods and Services Tax (GST) is a broad-based tax of 10% applied to supplies of most goods and services consumed in Australia.1 Sport and recreation clubs, including those in the non-profit sector, must be registered for the GST if their annual turnover is $50,000 or more (commercial sector) or $100,000 or more (non-profit sector). Registered organisations have an Australian Business Number (ABN). GST is payable by sport and recreation clubs on most goods and services sold or supplied in the course of their business. These supplies are called taxable supplies. There are other types of supplies where the GST does not have to be included in the price. These are called input-taxed supplies and GST-free supplies.

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Did you know?

Gold Coast 2018 is the 5th Commonwealth Games to be hosted by Australia.

Quick numbers

11.6 million Australian adults participate in sport or physical activity three or more times per week.
3.2 million Australian children participate in organised sport or physical activity outside of school.
$10 billion is spent annually by Australians on fees for participation in sport or physical activity.
17 million Australian adults participate in a sport or physical activity every year.