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