ARTICLE · 28 MARCH 2014

ATO changes lodgement requirements for organisations with over $20 million GST turnover

Makinson d'Apice Lawyers

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The GST Act expects entities with over $20m GST turnover to report monthly and lodge activity statements electronically.

AustraliaTax

Anna Lewis

Does your organisation turnover more than $20 million annually? If so, there are changes to the New Tax System (Goods and Services Tax) Act 1999 (GST Act) that you need to be aware of.

The GST Act requires all entities with over $20 million GST turnover to report monthly and lodge activity statements electronically.

The ATO will continue to send paper activity statements irrespective of an entity's turnover. However this does not remove the obligation to switch to electronic reporting for entities with over $20 million GST turnover.

How to report electronically?

If you have an AUSkey, you can log into the business portal at www.ato.gov.au to lodge the business statement, or if you do not have an AUSkey you can register at www.auskey.abr.gov.au.

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