Report GST Annually and Pay Quarterly Instalments

The option to report GST annually, and pay instalments quarterly is now available to all businesses that have a turnover that is less than $2 million.

The GST instalment is worked out by the ATO (which can be varied by the taxpayer) and then the entity reports its actual GST information annually on an Annual GST return.

If you would like to discuss this option, please call our office.