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.
Australian Taxation Office (1999). Sport, Recreation and Gaming and the New Tax System. Cat. no. NAT 3003-10.1999. Canberra: ATO (web site: www.taxreform.ato.gov.au).
