MAY 7Your GST return and payment is due for the taxable period ending 31 March.
MAY 28Your GST return and payment is due for the taxable period ending 30 April.
JUN 28Your GST return and payment is due for the taxable period ending 31 May.
When you acquire a good or service, you need to work out how much it will be used, or is available to use, in your business. You then apportion the amount of GST you claim based on the percentage of the good or service used in your business.
You acquire a good or service when you either:
- purchase it
- introduce it in to your business.
You can choose how you work out the percentage of business use, as long as it gives a fair and reasonable result. This can be based on past records, experience, business plans or another suitable method.
Goods that are commonly used in a business and privately include:
- phones (when over $500).