GST Annual Return Australia

A GST (Goods and Services Tax) Annual Return is a report submitted to the tax authorities by enrolled businesses in countries where GST is applied . It is an overview of all business dealings including the sale and acquisition of products and services during a given time period, often a fiscal year.

Whether you are an Australian business that is registered for GST and have elected to report and pay GST annually or a Tax agent and accountant who help businesses with their GST obligations, this is just the  right place for you!

In this article, we will cover all about GST Annual Return Australia, how, when and who needs to lodge it.

GST Annual Return Australia
GST Annual Return Australia

Who needs to lodge a GST Annual Return Australia?

You must submit a report annually if you voluntarily enrolled for GST and your GST turnover is less than $75,000. The ceiling for not-for-profit organisations is set at $150,000.

Businesses that have a simple GST structure, with few sales and purchases should lodge an annual GST return.

If you are eligible and have decided to report and pay GST yearly, you do not need to record or pay any GST during the year. You are required to report and pay any outstanding amounts by the end of the fiscal year.

GST Annual Return Australia
GST Annual Return Australia

Deadline for lodging a GST Annual Return Australia

The deadline for submitting your annual GST return and making any payments is either:

The deadline for filing your income tax return, which is October 31.

If you are not obligated to file an income tax return, 28th of February is the date then following the yearly tax period.

How to lodge a GST annual return?

In Australia, the Business Activity Statement is another name for your GST Return Report.

A BAS or GST annual return can be filed online, via mail, or through a registered tax agent. Make sure you are aware of the essential BAS due dates for your business in order to make sure you file your BAS on time.

You can lodge it online through:

Online Services for Individuals and Sole Traders (accessible through myGov).

Online services for business

SBR-enabled software

You can also hire a tax or BAS agent to lodge

An licensed tax or BAS agent can use their preferred electronic system to lodge, amend, and make payments on your behalf.

What information is included in a GST annual return?

Each year, you must provide the following amounts on your activity statement:

G1 Total sales

1A GST on sales

1B GST on purchases

The following labels need no amount reporting:

G2 Export sales

G3 Other GST-free sales

G10 Capital purchases

G11 Non-capital purchases.

Common errors to avoid while filing a GST Annual Return Australia

Here are a few avoidable mistakes while lodging a GST Annual return;

Lack of Inclusion of All Transactions:

It’s important to track every GST-related transaction, including exempt and zero-rated goods.

Incorrect Data Entry:

Making mistakes while inputting sales, purchase, or adjustment statistics can result in inaccurate reporting of GST liability.

Inaccuracies in the Output Tax Liability Calculation

GST returns may differ as a result of errors in determining output tax liability. These errors might be due to misread invoice amounts, improper tax rates, or omission of credit eligibility. 

These mistakes could lead to tax overpayments or underreporting, which might result in fines and audits.

Neglecting Tax Regulation Changes:

Failure to keep up with changes in GST legislation and regulations might result in noncompliance.

Misclassification of Products or Services

A frequent error that frequently results in inaccurate tax computations and compliance concerns is misclassifying goods or services in GST filings. 

For correct reporting, tax payment, guaranteeing compliance with tax legislation, and avoiding fines, proper categorization is essential. 

GST penalty for annual returns

There are several reasons why you could have forgotten to submit your taxes.

But this means that you will face a late-filing penalty. 

This fee is $222 for the first 28 days following the lodgement date. Following each subsequent 28-day period, it increases by an additional $275, with a maximum of $1,375. It’s essential that you get in touch with the ATO as soon as you can to take care of it.


Only those who have willingly enrolled for GST are eligible to utilise this approach. In other words, you are GST-registered and your revenue is less than $75,000 (or $150,000 for not-for-profit organisations).

Yes, you may be able to request a refund if the GST paid on your purchases exceeds the GST gathered on your sales. It is commonly known as Input Tax Credit.

Yes, even if there was no business activity or transaction during a month, the taxpayer must still lodge a nil GST return.

Yes, it is crucial to keep detailed records of all transactions involving the GST, including invoices, receipts, and other supporting paperwork. These documents could be required for upcoming audits or evaluations.

Zero Rated. NIL rated products and services are those for which the GST rate of 0% is in effect. These products or services are subject to 0% GST.


As a result, the GST (Goods and Services Tax) Annual Return is an essential financial record for businesses registered in countries where GST is imposed. It serves as a thorough breakdown of all GST-related transactions for a business during a given time frame, usually a fiscal year. 

To be in compliance with tax laws, the GST Annual Return must be filed appropriately and before the deadline. 

It is crucial to maintain thorough records of GST transactions for future reference and any audits. To maintain compliance with GST legislation, businesses should be educated about the unique needs of their local tax authorities.

We hope this article has provided you with enough information About GST Annual Return Australia.