We’ve noticed some businesses haven't updated their GST reporting and accounting methods after exceeding the relevant thresholds.
If your business has a GST turnover of:
- $10 million or more, you need to
- use full BAS reporting instead of simpler BAS
- account for GST on a non-cash (accruals) basis instead of a cash basis.
- $20 million or more, you need to report GST monthly on your BAS instead of quarterly.
We’re moving some businesses to the correct GST reporting and accounting methods from 1 July 2026. We'll notify you or your tax professionals if we’re making changes to your GST reporting.
You don’t need to wait for us to do this. You can voluntarily make the switch in Online services for businessExternal Link.
When you:
- are on full BAS reporting, you need to complete all GST labels rather than only reporting totals at G1, 1A and 1B
- account for GST on a non‑cash basis, you report GST when invoices are issued rather than when payments are received. You can claim GST credits when you receive the tax invoice for your purchases regardless of whether the payment has been made.
- move to monthly GST reporting, your reporting for wine equalisation tax, luxury car tax and fuel tax credits will also change to monthly.
Remember to lodge and pay in full and on time when moving to monthly GST reporting.
Keep up to date
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