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.
On this page:
- Accounting for GST on a cash basis
- Paying GST by instalments
- Annual apportionment of GST input tax credits
- Excise concessions
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:
- contacting us
- writing to us at the address below
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
If you are an eligible small business, 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).
