- ATO released updated guidance for the GST Analytical Tool on 6 August 2025.
- The GST Analytical Tool is used for annual reconciliation between audited financial statements and business activity statements.
- It is crucial for GST assurance reviews and ensures correct GST payment.
- Mandatory for Top 100 and Top 1,000 GST assurance reviews, except for predominantly input taxed suppliers.
- Updated guidance should be read with existing GST analytical tool resources.
- Taxpayers with a GST assurance review must complete a supplementary annual GST return.
- The supplementary return aims to streamline future reviews and improve compliance.
- The updated guidance clarifies GAT application for joint ventures.
- The GAT method statement includes a four-step reconciliation process.
- Steps involve reconciling statutory accounting figures to GST figures, adjusting for non-GST items, and addressing capital adjustments.
Source: taxathand.com
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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