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Monthly GST Reporting for Repeat Offenders (Mar 25 Tax Update)

Relevant For:

Small business owners with a history of mismanaging GST reporting.

Key Points:

  • Businesses with repeated GST compliance issues may be shifted to monthly GST reporting.
  • Common compliance issues include late lodgement, incorrect reporting or late payments.
  • The ATO will provide written notice if monthly reporting is required.
  • Accurate and timely GST reporting can prevent forced changes to your reporting cycle.

Full Article:

Managing GST compliance is critical for small businesses, especially as the Australian Taxation Office (ATO) plans to shift certain businesses from quarterly to monthly GST reporting.

Businesses repeatedly lodging late, incorrectly reporting GST or consistently making errors could face this mandatory shift.

If the ATO decides your business must switch to monthly reporting, you’ll receive written notification.

To avoid this, ensure your GST reporting is accurate and timely, reflecting good bookkeeping practices and proactive financial management.