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What you need to know

The indirect tax applicable in Australia is GST

GST is applicable to the supply of goods and services ‘connected’ with Australia, in the course of a business activity. ‘Connected’ means goods that are supplied within Australia, or services linked to goods in Australia, or services carried out in Australia. Note that if certain supplies of goods or services are made by a non-established supplier, GST will be remitted by the customer.

If your GST turnover is $20 million or more, you must report and pay GST monthly and lodge your activity statement electronically through the Business Portal.


Monthly verses Quarterly Returns

Quarterly GST

An entity is likely to choose to lodge quarterly returns if it has to remit GST each quarter to the Australian Taxation Office. This will occur if the GST collected by the entity on its revenue transactions is greater than the GST input tax credits. Most businesses will be in this category.

Monthly GST

An entity might choose to lodge monthly if it usually receives a refund from the Taxation Office. This will occur if the GST collected by the entity is less than the GST input tax credits it can claim back on its purchases. Lodging monthly will allow the entity to receive its refund more promptly, thus improving its cash flow. Most churches will be in this category. Many of a church’s revenue transactions will be free of GST.

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