My activity statement for July — September 2002 showed an instalment amount at G21. I have not used Option 3 before, how was the amount at G21 calculated?
The instalment amount calculated by the Tax Office is the average of your net GST amounts for quarters 2, 3 and 4 from the 2001–02 financial year adjusted to reflect expected growth in income. The adjustment is made in line with movement in Australia’s gross domestic product (GDP). The source of the GDP data is the Australian Bureau of Statistics.