Aug 02

Once I’m registered for GST, what reporting is required?

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Once I’m registered for GST, what reporting is required?

You will be required to lodge a Business Activity Statement to report the GST you have collected and paid. This can be lodged annually, quarterly or monthly depending on your business’ turnover.

  • Annually – if your business’ GST turnover is less than $75,000 a year and you are voluntarily registered for GST, then you can opt to lodge your BAS annually.
  • Quarterly – if your business’ GST turnover is over $75,000 but less than $20 million a year, then you will report quarterly.
  • Monthly – if your business’ GST turnover is over $20 million a year, or the ATO has advised you must report monthly.
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About The Author

Jason is the Principal Accountant at Wingr and your go-to guru for short-term rental management success. With over 25 years of accounting under his belt and a property investment enthusiast since he was 18, Jason expertly blends his professional know-how with his personal passions to help your business soar. Jason isn’t just an accountant; he’s your business wingman in every sense of the word.