Information on Deferred GST Scheme

20/3/2020

To all our Valued Customers

 

If you're an Australian importer, you might be eligible to join the deferred GST scheme.

 

Deferring GST can be a helpful way of managing your cash flow.

 

Instead of paying GST on your taxable imports upfront, you can defer payment until the first activity statement lodged after the goods are imported.

 

To participate in the scheme you must meet eligibility requirements including

 

  • having an ABN
  • being registered for GST
  • lodging your activity statements monthly and online
  • making your activity statement payments electronically
  • complying with customs regulations (entering goods or excise-equivalent goods for home consumption).
  • You can complete your application for the deferred GST scheme online.

 

Remember, after Friday 27 March 2020 you will need to use the myGovID app to log-in to the Business Portal.

 

Remember, registered tax agents can help you with your tax.

 

The following link provides further information and assistance

https://www.ato.gov.au/Newsroom/smallbusiness/GST-and-excise/Deferring-GST-on-imports/?sbnews20200318

 

If you have any questions, please refer to your assigned Customer Service Representative so we can direct you accordingly

 

Keeping you updated,

BRi Customer Solutions Team

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