What is GST (Goods and services tax)?

A consumer tax charged on most goods and services in countries such as New Zealand and Australia. As a business owner in these countries, you need to register for GST to so you can claim it back on business expenses (such as buying wholesale merchandise), and collect it from your customers. A supplier may ask to see your GST registration as proof you are a genuine reseller.

The current GST rate in Australia is 10%. In New Zealand, it is 15%.