New GST Reporting Requirement for Top 100 and Top 1,000 Taxpayers: Supplementary Annual Returns Introduced

• A new GST reporting requirement for Top 100 and Top 1,000 taxpayers in Australia
• Supplementary annual GST returns to be introduced for affected taxpayers
• Pilot program to test the clarity and functionality of the supplementary return questions
• Due dates for the supplementary returns based on financial year end
• Information to be disclosed in the supplementary return includes outstanding action items, level of GST governance, and reconciliation between audited financial statements

Source:

• taxathand.com
• Orbitax

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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