Calculating and Reporting GST Quarterly

You can prepare a Business Activity Statement (BAS) for reporting GST quarterly. When using this option, you will be reporting GST quarterly.

If you decide to report GST quarterly, you will not need to file an annual GST return. The following instructions detail how to calculate and report GST quarterly.
  1. Set up your company information for the current tax year in HQ ATO Tax Years.
  2. Open the HQ BAS Process form. It defaults to the current tax year as specified in HQ ATO Tax Years.
  3. Enter a new sequence number in the Sequence field. You can also enter New, N, or + to use the next available sequence number.
    Note: Each time you create a BAS for reporting, you must use a new sequence number. By creating a new sequence number, you can report amounts specific to the quarter (or other specified time period) rather than for the whole year.
  4. Set up your general BAS information in the following fields: Form Due On, Payment Due On, Contact Person, Contact Phone, GST Acct Method, Signature, Date, Return this completed form to, Hours, and Minutes. For more information on a specific field, see the F1 help.
  5. In the GST section of the form, enter the start and end dates for the range you are reporting GST for in the Start Month and End Month fields.
  6. Select Option 1: Calculate and Report Quarterly from the Option drop-down.
  7. Check the G1 Include GST box if the total sales you are reporting includes GST.
  8. On the FBT/Summary tab, enter amounts in the appropriate fields in the Summary section.
  9. Associate GST tax codes with reporting items, as necessary.
  10. Click Generate GST Amounts.
The system calculates the G1 (total sales), G2 (export sales), G3 (other GST-free sales), G10 (capital purchases), and G11 (non-capital purchases) field amounts from the HQ Business Activity Statement Report and displays the amounts on the GST/PAYG Amounts tab.
  11. On the GST/PAYG amounts tab, review and modify the amounts in the Sales or Purchase Amounts and GST Tax Amt fields, as necessary.
  12. Return to the Info tab and select Options > Reports > HQ Business Activity Statement Report to run the report.
  13. File the report with the ATO.
Repeat this process for each quarter you are reporting GST to the ATO.