Your GST reporting and payment cycle will be one of the following -
- Quarterly – if your GST turnover is less than $20 million – and the ATO have not told you that you must report monthly.
- Monthly – if your GST turnover is $20 million or more – or you choose to report GST monthly.
- Annually – if you are voluntarily registered for GST and your GST turnover is under $75,000 ($150,000 for not-for-profit bodies).
If your GST turnover is less than $20 million and the ATO haven't told you to report GST monthly, you can report and pay GST quarterly. The due dates for each quarter are -
- September Quarter – due 28 October
- December Quarter – due 28 February
- March Quarter – due 28 April
- June Quarter – due 28 July
If your GST turnover is $20 million or more, you must report and pay GST monthly and lodge your activity statement electronically through Online services for business. The ATO also require some other businesses to report monthly – the ATO notify those that must do this. Other businesses may choose to report GST monthly when their GST turnover is less than $20 million. Your activity statement must be lodged and payment made by the 21st of the following month.
You can elect to report and pay GST annually. You can only use this method if you are voluntarily registered for GST. That is, you are registered for GST and your turnover is under $75,000 (or $150,000 for not-for-profit bodies).
For more information, please visit the ATO page When and how to report and pay GST