The goods and services tax (GST)

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Discover how to calculate the goods and services tax (GST) for various items and discuss what constitutes a fair tax.

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  • Fact 10

    In 1936, at the request of the Australian Wool Growers Council, a wool tax was imposed to help the production of wool and to extend the use of wool throughout the world. It was levied at 6d (about 5c) per bale on all sales of shorn wool produced in Australia.

Eligible rollover fund (ERF)

A regulated superannuation fund or an approved deposit fund.

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