- Small businesses may be moved from quarterly to monthly GST reporting starting April 1, 2025.
- This applies to businesses with a history of non-compliance, such as missing payments, late BAS lodging, or incorrect GST reporting.
- Businesses will be notified in writing if they are moved to monthly reporting.
- The change aims to support businesses in meeting their obligations and improve business habits.
- Many small businesses have voluntarily moved to monthly GST reporting, which has improved cash flow and record keeping.
- Monthly reporting aligns better with business processes, improves cash flow management, and allows for smaller, more manageable payments.
- Monthly reporting can help businesses track finances, make informed decisions, and stay on track with payments.
- Voluntary monthly reporting can improve record keeping, cash flow management, and reduce the risk of falling behind on payments.
Source: ato.gov.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
