How does the Tax Office calculate my GST instalment amount?
If you have an ‘ATO instalment amount’ printed at box G21 on your activity statement, you can choose to pay this amount. Because the information we have available to calculate the instalment amount is generally based on the net GST amounts you reported for the last income year, the amount is adjusted under the law to reflect expected growth in income. When this instalment option was made available, it was announced the adjustment would be made in line with movement in Australia’s gross domestic product (GDP). For the 2002—03 year the GDP-adjustment is 6%, based on information provided by the Australian Bureau of Statistics.
