If I become eligible to use the instalment method for GST after the first quarter, what period will my Annual GST return cover?
Generally you will not be able to choose to pay GST by instalments after the first quarter of a financial year. However, if you are a new business and first become eligible after this date, you may choose to pay GST by instalments from the first quarter that you become eligible until the end of the financial year. The Annual GST return will cover only the period that you elected to pay instalments.
Related Questions
- I am a GST instalment payer who does not have any WET or LCT obligations. Does a refund from my Annual GST return effect my status as an instalment payer?
- If I become eligible to use the instalment method for GST after the first quarter, what period will the Annual GST return cover?
- I do not have any WET or LCT obligations. Does a refund from my Annual GST return affect my status as an instalment payer?
