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If I become eligible to use the instalment method for GST after the first quarter, what period will the Annual GST return cover?

April 26, 2017annual cover eligible first quarter GST instalment method period Return

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If I become eligible to use the instalment method for GST after the first quarter, what period will the Annual GST return cover?

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Generally you will not be able to choose to pay GST by instalments after the first quarter of a financial year. However, if you are a new business and first become eligible after this date, you may choose to pay GST by instalments from the first quarter that you become eligible until the end of the financial year. The Annual GST return (PDF, 110KB) will cover only the period that you elected to pay instalments. For example: Myco Pty Ltd first became eligible and decided to use the instalment option for GST from the second quarter. When it receives its Annual GST return (PDF, 110KB), the return will cover the second, third and fourth quarters of that financial year.