How are GST instalment amounts calculated?
How the GST instalment amount is calculated depends on the option you used to report and pay GST in the last income year. If you previously calculated your actual GST net amounts yourself, your current GST instalment amount calculated by the ATO is the average of your net GST amounts for the last income year (excluding the net GST amount from your first quarter) and adjusted by GDP. If you previously used GST instalment amounts calculated by us (or amounts you varied), your current instalment amount is calculated from your Annual GST return and adjusted by GDP. Your GST instalment amount may change during the year if you vary your instalment or lodge an Annual GST return. For the 2009–10 year the GDP-adjustment is 2%, based on information provided by the Australian Bureau of Statistics. Example: Meon Pty Ltd is a small business that has been registered for GST since 1 July 2008. In that period Meon has been lodging its activity statements using Option 1 (calculate GST and report quarte
How the GST instalment amount is calculated depends on the option you used to report and pay GST in the last income year. If you previously calculated your actual GST net amounts yourself, your current GST instalment amount calculated by the ATO is the average of your net GST amounts for the last income year (excluding the net GST amount from your first quarter) and adjusted by GDP. If you previously used GST instalment amounts calculated by us (or amounts you varied), your current instalment amount is calculated from your Annual GST return and adjusted by GDP. Your GST instalment amount may change during the year if you vary your instalment or lodge an Annual GST return. For the 2009-10 year the GDP-adjustment is 2%, based on information provided by the Australian Bureau of Statistics. Example: Meon Pty Ltd is a small business that has been registered for GST since 1 July 2008. In that period Meon has been lodging its activity statements using Option 1 (calculate GST and report quarte
