Guide to activity statements

Adjustments and corrections

Adjustments

From time to time, you may need to make adjustments that increase or decrease the net amount of GST you're liable to pay for a reporting period.

You may have an adjustment if one of the following occurs:

an event that has the effect of changing the price of a sale or a purchase - for example, you provide a discount to a customer or receive a rebate from a seller
a taxable sale you made, or a purchase you're entitled to a GST credit for, is cancelled (for example, where goods are returned)
you write off a bad debt or you recover a previously written-off bad debt
your actual use of a purchase or importation for business purposes differs from your intended use.

There are also other circumstances where you may be required to make an adjustment, such as when you:

cease registration
sell something you used for making financial supplies.

For more information, refer to Making adjustments on your activity statements (NAT 11035).

Correcting GST mistakes

When completing an activity statement, you may discover that you have made a mistake in a previous activity statement or left something out.

Generally, you need to lodge an activity statement revision form to correct a mistake. You can do this online or you can phone us on 13 28 66 to obtain a revision form.

In some cases you can correct the mistake or omission in the GST section on a later activity statement. Correcting a mistake on an activity statement is different from making an adjustment. For example, you make an adjustment because the price of a sale or purchase changes, but you make a correction because you have transposed figures incorrectly or accidentally left amounts off your activity statement.

For more information, refer to:

Correcting GST mistakes (NAT 4700)

Common errors when accounting for GST

Common GST errors and property (NAT 73112)

Common GST errors when completing your activity statement

Common errors when claiming GST credits.

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Last Modified: Tuesday, 29 January 2013