ATO Provides Guidance on Voluntarily Changing GST Reporting Period

The Australian Taxation Office (ATO) has updated its guidance on Changing to monthly GST reporting, including new guidance on Voluntarily changing your GST reporting. The ATO has also updated the guidance on Why we may change your GST reporting cycle, which includes changing from quarterly to monthly in cases where:

• A business meets the tax period turnover threshold of AUD 20 million or more;
• A business is run in Australia for less than 3 months; or
• A business has a history of failing to …