GST instalments¶

Definition. GST instalments are set amounts of GST, worked out by the ATO, that you pay across the year, then settle the actual total on an annual GST return.

In plain English¶

Instead of working out your exact GST every quarter, you can choose to pay a fixed instalment amount that the ATO tells you. You pay these amounts through the year to keep on top of your GST bill. Then, once a year, you lodge an annual GST return that adds up your real figures. If you have paid too much you get the difference back, and if you have paid too little you top it up.

Related lessons¶

• GST instalments

General information only — not tax, super or financial advice.