Some businesses with a turnover of less than $10 million may be eligible to report their GST using the GST instalment method. If eligible, this means you pay GST instalments quarterly and report your final amounts annually on a GST return.

The ATO calculates your instalment amounts based on the previous GST amounts you’ve reported (usually within the last year).

There are a number of criteria you will need to meet which include a continuous, current BAS lodgment record of at least 4 months, and complying with all previous GST lodgment and payments immediately preceding the current tax period.

If you’d like to report using the GST instalment method, you will need to phone the ATO to confirm your eligibility.