Question

In a major relief to micro, small and medium enterprises, the gst council has recently increased the tax exemption limit per annum to:

Answer 1

Explanation:

As a business owner, it's your responsibility to register for GST if your turnover exceeds the $75,000 threshold or is likely to exceed it. The ATO advises that if you've just started a new business and expect it to earn $75,000 or more in its first year of operation, you should register for GST.

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Answer 2

Explanation:

What a firm achieves by differentiating its product from competitors is to create a market in which it can act as a monopoly, enabling them to have price-making power. ... Nevertheless, product differentiation can also be a way to avoid or to create entry barriers and thus become a source of competitive advantage