Paying GST Instalments Quarterly

You can pay your GST instalment amount on a quarterly basis.

You will not be calculating the amount, as it is determined by the ATO. If you want to vary the amount, you will need to provide your estimated net GST for the year, as well as the amount you are paying per quarter and your reason for varying the amount.
  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.
    Note: If you are preparing your annual GST report, make sure to specify the entire tax year in the date range.
  6. Select Option 3: Pay GST Instalment Amount from the Option drop-down.
The system enables the following fields: GST Instalments, Estimated net GST for the year, Varied amount for the quarter, and Reason code for variation.
  7. Enter the instalment amount determined by the ATO in the GST Instalments field. Do not enter an amount here if you are varying the amount.
  8. If you are varying the instalment amount, enter the net GST that you estimate for the year in the Estimated net GST for the year field.
  9. If you are varying the instalment amount, enter the varied amount you are paying for the current quarter in the Varied amount for the quarter field.
  10. If you are varying the instalment amount, enter the reason code that describes the variation in the Reason code for variation field.
  11. On the FBT/Summary tab, enter amounts in the appropriate fields in the Summary section.
  12. Associate GST tax codes with reporting items, as necessary.
  13. 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 PR GST Report and displays the amounts on the GST/PAYG Amounts tab.
  14. On the GST/PAYG amounts tab, review and modify the amounts in the Sales or Purchase Amounts and GST Tax Amt fields, as necessary.
  15. File your annual GST return.
  16. Return to the Info tab and select Options > Reports > HQ Business Activity Statement Report to run the report.
The system only records the total sales amount for the quarter in the Option 3 section of the HQ BAS GST report.
  17. File the report with the ATO.
  18. Repeat steps 1-14 for each quarter.
  19. When you are ready to prepare the annual GST report, repeat steps 1-12. When finished, select Options > Reports > HQ Goods and Services Tax Report.