With the COVID-19 pandemic causing chaotic economic conditions, Australian importers have been encouraged to consider the ATO’s GST deferral scheme.
The Australian Taxation Office (ATO) offers a scheme for domestic importers whereby instead of paying GST on taxable imports upfront, you can defer payment until the first activity statement is lodged after the goods are imported.
To participate in the scheme, an importer must:
- have an ABN
- be registered for GST
- lodge activity statements monthly and online
- make activity statements payments electronically
- comply with customs regulations.
Applications for the scheme can be completed online.
Click here for the deferred GST application form.
For more information visit the ATO website.
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