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GST deferral scheme

SME
Handmade Articles
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Feb 19, 2021

What is the GST deferral scheme in Australia?

1 answer

Reyansh G.
Feb 19, 2021

It is an initiative that allows a business to pay GST when they next lodge an Business activity statement (BAS) with the Australian tax office (ATO) rather than each time they import goods or receive them from a licensed warehouse.

In order to participate businesses are required to:

  • Be registered with an Australian Business Number (ABN)
  • Be registered for GST
  • Lodge and pay their BAS monthly online
  • Correspond with Customs and Border Security services online
  • Be free of any debt or outstanding returns to the ATO
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