Here are a few words you will use a lot if your company collects GST.
|Word||How it relates to GST setup|
|GST agency||The government agency that sets the requirements for GST collection and payment, such as ATO.|
|GST code||The identifier that you use on forms to charge GST.|
The GST code is associated with a rate.
|GST rate||The rate is used to calculate the appropriate GST for each transaction.|
Each GST rate links to a specific box of the BAS. There can be separate rates for things you sell and things you buy.
To see all of your GST rates, go to the GST page, then select Rates & settings.