Guide to small business entity concessions

Annual apportionment of GST input tax credits

What accessing this concession means	What not accessing this concession means	Are there any other eligibility criteria?	How do I access this concession?	When can I access this concession?
You can choose to account for the private portion of your business purchases annually rather than each time you lodge an activity statement. You can claim the full GST credit for a business purchase and make an adjustment for the private portion of the purchase after the end of the income year.	You will need to apportion your claim for a GST credit for purchases that relate to private use on each relevant activity statement where you have claimed a GST credit which includes some portion of private use.	Yes	You will need to keep a record of this election, detailing the date the election was made and date it took effect. You don't need to notify us.	If you choose to use this method you can make an election at any time. Your election will take effect from the beginning of the earliest tax period for which your activity statement is not yet due.

	For more information, refer to GST and annual private apportionment (NAT 12877).
	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