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What are the three GST reporting options available?

April 26, 2017GST Options

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What are the three GST reporting options available?

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Calculate GST and report quarterly (Option 1) is available to all businesses. Calculate GST quarterly and report annually (Option 2) is available to all businesses with a turnover less than $20 million. Pay a GST instalment amount (Option 3) is available to businesses with a turnover of $2 million or less. For further information please refer to fact sheet Quarterly GST options (NAT 4149).