Choose reporting options for PAYGI and GSTI
Your clients can generally choose between two options for reporting and paying their pay as you go (PAYG) instalment obligations for the income year. They can either:
- pay the pre-printed instalment amount, or
- calculate their PAYG instalment using the rate option.
In Quarter 1, if an activity statement due date has passed and a reporting method has not been clearly indicated, your client will not be able to change their reporting method until the first quarter of the next income year.
Existing quarterly payers who have not chosen a reporting method will default to the method used in the previous year. If they are no longer eligible to use the instalment amount option, they will default to the instalment rate option.
New payers will default to the instalment amount option.
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Depending on your client's GST turnover and other eligibility requirements, they can report and pay GST monthly, quarterly or annually.
Quarterly payers can elect to pay and report GST using:
- Option 1: Calculate, report and pay GST amounts quarterly
- Option 2: Calculate and pay GST quarterly and report annually
- Option 3: Pay GST instalments quarterly and report annually
Notify us of your preferred option by the due date of the Quarter 1 activity statement in the relevant financial year.
Existing quarterly payers who have not chosen a reporting method will default to the method used in the previous year.
New payers will default to Option 1 if an election is not made by the due date.
However, entities are able to change between Options 1 and 2 at any time throughout the year.
You can make an election on your clients' electronic activity statements.
Find out how you can choose your client's pay as you go (PAYG) or GST instalment reporting cycle.