Guide to small business entity concessions

GST concessions

There are three goods and services tax (GST) concessions that you may be eligible for:

Accounting for goods and services tax (GST) on a cash basis

You can account for the GST you must pay on sales you make in the same tax period you receive payment for them. Accordingly, you would claim GST credits for the GST you pay in the price of your business purchases in the same tax period that you pay for them.

Paying GST by instalments

You can pay GST by instalments worked out for you by the ATO. You can vary this amount each quarter if you choose.

Annual apportionment of GST input tax credits

If you purchase items that you use partly for private purposes, you can choose to claim full GST credits for these items on your activity statements and then make a single adjustment to account for the private use percentage after the end of your income year.

	For more information including a detailed definition of these concessions, refer to Concessions for small business entities (NAT 71874).
	Small business entity concessions - home

Sections within GST concessions

• Accounting for goods and services tax (GST) on a cash basis
• Paying GST by instalments
• Annual apportionment of GST input tax credits