GST, BAS and activity statements

Monthly GST reporting

Monthly GST reporting means a business lodges and pays GST each calendar month instead of each quarter. Some businesses are required to report monthly because of the size of their GST turnover, and others choose to, for example to keep cash flow and record-keeping current or to receive refunds sooner. A business that wants to change must follow the ATO's process and usually has to stay on the new cycle for a minimum period. Changing the cycle changes the activity statement due dates, so a practice that lodges for the client should record the cycle against each client and watch for the change taking effect.

General information, not tax advice. The rules change, so check the source page above for the current position. Fedix is developed by Tax7 R&D Pty Ltd.