The GST Is a Tax That Is Levied at the Rate

question 39

Multiple Choice

The GST is a tax that is levied at the rate of ______ on the sale of most goods and services. It was introduced in Australia on July 1 2000.

• A) 20%
• B) 5%
• C) 15%
• D) 10%

---

Definitions:

Sockeye Salmon

A species of salmon found in the Pacific Ocean, highly valued for its taste, nutritional content, and as a resource in many fishing industries.

Market Price

The current price at which a good or service can be bought or sold in a market.

Production Costs

Expenses incurred in the process of creating a product or service, including labor, materials, and overheads.

Property Rights

Legal rights to use, control, and dispose of property, including real estate, intellectual property, and tangible goods.