If you are owed more in income tax credits than you owe in GST, you will receive a refund. In general, input tax credits can only be applied to items that you directly use for your business. No matter what stage of business, or what problem you face, Small Business BC offers a range of seminars and one-on-one advisory sessions to suit any business.
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Small Business Canadian Tax Info. Table of Contents Expand. Table of Contents. By Susan Ward. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.
Learn about our editorial policies. If you are exporting goods you will have to meet one of the following requirements for them to be GST-free within 60 days:. If these conditions are met, the exported item will be GST-free. If the goods are paid in instalments the payment or invoice will need to be for the final instalment. In some cases, it may be difficult to meet the 60 day deadline. For these cases you may be able to get an extension by applying for an extension with the ATO.
If your export is a service, various rights or other professional services you generally will not have to charge GST. There are some circumstances where GST must be paid, such as if the goods remain in Australia for more than 60 days after they are sold.
You should refer to the Australian Taxation Office for detailed information on GST rules and your obligations as an Australian business. Find out when you need to charge GST here.
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