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  • GST and excise concessions

    As a small business, you may be eligible for GST and excise concessions. The aggregated turnover threshold for these concessions is:

    • $10 million from 1 July 2016
    • $2 million until 30 June 2016.

    If you are not a small business because your turnover is $10 million or more but less than $50 million, you may still be eligible for the excise concession from 1 July 2021.

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    Accounting for GST on a cash basis

    Accounting on a cash basis means you account for GST on the business activity statement that covers the period in which you made the sales and purchases. Accordingly, you would then claim any GST credits in the same tax period.

    You need to notify us that you have elected to access this concession by:

    Australian Taxation Office
    GPO Box 9935
    [insert the name and postcode of your capital city]

    For example:

    Australian Taxation Office
    GPO Box 9935
    SYDNEY  NSW  2001

    See also

    Paying GST by instalments

    You can pay GST by instalments that we work out for you and vary this amount each quarter if you choose.

    Contact us to find out if you are eligible.

    See also

    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 make a single adjustment to account for the private use percentage after the end of your income year.

    You don’t need to notify us that you are using this concession, but you should keep a record, showing the date it was made and when it took effect.

    See also

    Excise concession

    You can apply to defer settlement of your excise duty and excise equivalent customs duty from a weekly to a monthly reporting cycle. If approved, you can then lodge your excise return and pay your duty liability on or before the 21st day of the following month.

    To change to a monthly reporting cycle, you must apply in writing to vary your periodic settlement permission (PSP).

    Next steps

    Last modified: 10 Jun 2021QC 22661