GST core
Reporting period
A reporting period is how often you report GST and other amounts to the ATO, such as monthly, quarterly or annually, and it decides which dates your BAS is due.
Reporting period is the term people use for the regular interval at which they report and pay GST and related amounts to the ATO. For most small businesses it is the quarter, which means reporting four times a year. It closely overlaps with the idea of a tax period, but is a more general way of describing how often you report.
The reporting period affects when you must lodge and pay. A business with quarterly reporting generally has to lodge its BAS 28 days after the end of the quarter, although the December quarter has a later due date and some businesses lodging through registered agents may have extended dates. Monthly reporters generally lodge and pay by the 21st of the following month. Check the ATO website for the current due dates and any agent concessions.
The BAS can include more than GST. It may include PAYG withholding, PAYG instalments, fringe benefits tax instalments and other amounts. Each of these can have its own reporting frequency, and the BAS can combine them. For example, a business might report GST monthly and PAYG withholding quarterly, though many businesses find it simpler to keep them aligned.
Your reporting period can change. Rising turnover can push you into monthly reporting, and you can sometimes apply to change if your circumstances suit a different frequency. If you change, the ATO will confirm the new period and the first BAS due under it. Make sure your accounting software and your bookkeeper or agent are aware of the change to avoid missed lodgments.
Common misunderstandings include assuming you can choose any reporting period you like, or that a longer period is always better. There are rules about who can use which period. A longer period may reduce paperwork but can increase the amount you need to set aside and can delay refunds. Another is forgetting that the reporting period for GST is separate from the income tax year.
Set up reminders for each due date and keep your records up to date throughout the period, rather than leaving the work to the last minute. This page is general information only, so confirm your reporting period and due dates with the ATO or a registered tax professional.
Worked example
A cafe reports quarterly. For the quarter ending 31 March it collected $9,900 in sales including GST (GST of $9,900 / 11 = $900) and paid $5,500 in purchases including GST (credits of $5,500 / 11 = $500). The net GST for that reporting period is $900 - $500 = $400, which is reported and paid with the BAS.
Practical tips
- Put each BAS due date in your calendar so you are ready ahead of time, not rushing at the last minute.
- If you receive regular refunds, ask whether monthly reporting would suit your cash flow better.
- If your turnover is growing, plan for the possibility of moving to monthly reporting and check that your systems can cope.