© Australian Taxation Office for the Commonwealth of Australia If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.
Make sure you have the information for the right year before making decisions based on that information. Some of the information on this website applies to a specific financial year. If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. If you report and pay GST quarterly and your GST turnover is less than $10 million, you may be able to elect to pay by the GST instalments method. Otherwise, the new cycle will take effect from the start of the next quarter or year.Ĭontact us if you need to change your GST reporting and payment cycle.ĭepending on your GST turnover and other eligibility requirements, you report and pay GST monthly, quarterly or annually (your GST reporting cycle). If you elect to change your cycle early in the lodgment period (for example, in the first month of the quarter or at the beginning of the financial year) you can generally commence the new cycle straight away. This may happen when your GST turnover changes or if you choose to report and pay using a different cycle.
That is, you are registered for GST and your GST turnover is under $75,000 ($150,000 for not-for-profit bodies).ĭepending on your circumstances, you can change the cycle you use to report and pay GST.
Your GST reporting and payment cycle will be one of the following:
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