Gat Flashcards
1
Q
How does gst affect businesses
A
For sole traders earning less than 60k the business won’t need to pay GST.
When selling the business
Partnerships must abide by the partnership act and pay the relevant gst
For companies the companies act and fra
2
Q
What is gst
A
Gst is a value added tax vat is a comprehensive indirect tax levy on manufacturing sale and consumption of goods as well as services on a national scale
