ATO Urges Businesses to Review GST Turnover, Update Reporting Methods Before July 2026

• The ATO is reminding businesses to review their GST turnover and ensure correct GST reporting and accounting methods.
• Businesses exceeding AUD 10 million turnover must use full BAS reporting and account for GST on a non-cash (accruals) basis.
• Businesses exceeding AUD 20 million turnover must report GST monthly instead of quarterly.
• From 1 July 2026, the ATO will automatically transition some businesses to the correct GST obligations if they haven’t updated their methods.
• Businesses can voluntarily update their GST reporting methods before the automatic transition and should ensure timely lodgment and payment.

Source: regfollower.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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