2025 GST Reporting Changes – What You Need to Know

We want to inform you about an important update regarding the upcoming changes in GST reporting, which will come into effect from 1 April 2025 as mandated by the Australian Taxation Office (ATO).

What's Changing?

Businesses with a history of late payments, incorrect reporting, or non-lodgment of BAS will be required to transition from quarterly to monthly GST reporting.

Reason for the Change

The ATO aims to enhance compliance and lessen outstanding GST debts. Monthly reporting is intended to improve cash flow with smaller and more frequent payments, reduce the risk of large quarterly tax bills, and promote better record-keeping to minimize reporting errors.

Who Will Be Affected?

Your business may be impacted if it has missed GST payments, lodged BAS late or failed to lodge multiple times, or submitted incorrect or inconsistent GST reports. If your business is moved to monthly reporting, you must comply for at least 12 months before being eligible to switch back to quarterly reporting.

How Can We Help?

The WLW Group is committed to assisting you in navigating these upcoming changes. Our team is available to provide guidance and support tailored to your specific business needs.

Please feel free to contact us at 1300 937 724 for any inquiries or concerns.

Taking proactive measures now can ensure that your business remains compliant and effectively manages its cash flow under the new GST reporting rules.