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As a business you use an activity statement to:
Your reporting and payment period is shown on your activity statement and will be one of the following:
Choosing a GST option (quarterly payers)
Most businesses report and pay their GST quarterly and have a choice each year about how they do this. If your activity statement shows that you have options available, you need to choose one.
Completing the GST labels on your activity statement
The GST labels you need to know about depend on the option you have chosen:
Option 1Calculate & report quarterly
Option 2Calculate quarterly, report annually
Option 3Pay instalment amount, report annually
G1 Total sales
G2 Export sales
G3 Other GST-free sales
G10 Capital purchases
G11 Non-capital purchases
G21 ATO instalment amount
If varying: G22 Estimated net GST for the year
If varying: G23 Varied amount for the quarter
If varying: G24 Reason code for variation
1A GST on sales or GST instalment
1B GST on purchases
If your business reports and pays GST monthly, you must complete the same labels as for quarterly payers who choose option 1.
Methods for reporting GST
There are two methods for working out your GST liability. You can use your own accounting records (most businesses do this), or use a calculation sheet provided by us.
Adjustments and corrections
If an event occurs that alters the GST you reported on a previous activity statement - for example, goods are returned and the sale is cancelled - you may need to make an adjustment.
If you need to correct a mistake you made in a previous activity statement, you may need to lodge a revised activity statement.
GST instalment notice
If your business pays a quarterly GST amount and has no other reporting obligations, we will send you a quarterly GST instalment notice instead of an activity statement.
Terms we use
When we say:
For more information, refer to GST - completing your activity statement (NAT 7392).
For a list of related documents, tools and forms, including instructions for completing the GST section of your activity statement in specific circumstances, refer to GST essentials.
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