How is GST paid?
Once a business has completed their BAS, they will calculate a net amount that they are either owed by (eg a refund), or that they owe to, the Australian Taxation Office. The BAS form and any payment must be sent to the ATO by the due date shown on the BAS. The ATO will pay any amounts owing to you within 14 days of your activity statement being lodged. The ATO will pay you interest if you are not paid the refund within that timeframe. See pages 4 and 5 of the Business Activity Statement Instructions for more information. However, if your activity statement is incomplete or you have an activity statement that has not been lodged, the ATO will not pay you a refund and you will not be entitled to any interest. If you have any other outstanding tax debt, the refund will be offset against that liability. The amounts will be paid only by direct credit into your nominated financial institution account. The nominated account must be at a branch of the institution in Australia.
