ATO to push non-compliant businesses to monthly GST reporting

Small businesses with a history of not complying with their obligations may be moved to monthly GST reporting from the start of April, the ATO has warned.

In a recent update, the ATO has said it is currently monitoring small businesses that may need to change from quarterly to monthly GST reporting to stay on track.

"If you operate a small business, from 1 April 2025, we may move you from quarterly to monthly GST reporting if you have a history of not complying with your obligations," the ATO said.

This includes non-compliance such as missing payments, lodging a BAS late or incorrectly reporting GST.

The ATO said that any small businesses that are moved to monthly GST reporting will be notified in writing.

"The move is designed to support you to meet your obligations and to embed good business habits into your business by better aligning reporting with your reconciliation processes. This will help make reporting easier and save you time," the Tax Office said.

The ATO noted that many small businesses had already voluntarily moved to monthly GST reporting.

"This has helped them improve their cash flow and keep their record keeping up to date," it said.

"Generally, small businesses that report their GST monthly find that monthly reporting aligns better with other natural business processes [and that] cashflow management improves, which helps them make more informed business decisions."

Making smaller, more management payments also helps businesses to meet their tax obligations, the ATO said.

"Monthly reporting may make it easier for you to track your finances and business performance and make more informed decisions each month," it said.

Miranda Brownlee
26 February 2025
accountantsdaily.com.au

Mark Lisle

Mark is our managing partner and has been with the firm for over 36 years. He brings a wealth of experience in all areas of our business, including business advisory, taxation and self managed superannuation.

Mark’s ethos is that good advice stems from working closely with our clients and being prepared to go that extra step to assist them in meeting their goals and optimising their financial position.

Mark is a Fellow of Chartered Accountants Australia and New Zealand, an accredited SMSF Specialist and a registered SMSF auditor.

Outside of work, Mark enjoys trying to keep fit and spending time down at his “second home” in Port Fairy.

Josh Laing

Joshua began working at Rundles in 1999 whilst still completing his Bachelor of Business (Accountancy) degree at RMIT. After graduating in 2001 he was admitted to the Institute of Chartered Accountants Australia and New Zealand in 2004. Joshua spent two years working in London before returning to Rundles in 2006.

Josh has a wealth of knowledge across a broad range of industries as well as in Self Managed Superannuation. Josh enjoys working with family groups and businesses to ensure they’re structured correctly to maximise asset protection, succession planning and management of tax.

Married with 2 children, Josh spends his weekends with his family and following the Tigers.

Brad Roach

Brad has been a part of the Rundles Team since 1996 and became a Partner of the firm in 2014. During his time at Rundles, Brad has developed a strong relationship with his clients across a wide range of industries and is dedicated to assisting them to reach their personal and business goals.

Brad is passionate about seeing his clients succeed and utilises his extensive experience in public practice to provide a holistic service to his clients. He also has a wealth of experience in superannuation, particularly self managed superannuation funds.

In his spare time, Brad likes to play a round of golf with friends and enjoys watching his two sons play various sports.

Peter Davison

Peter graduated from RMIT with a Bachelor of Business (Accountancy) with distinction in 1976. He joined Rundles upon graduating. Peter has been a member of the Institute of Chartered Accountants since 1979 and a Fellow since 1991. As an active yachtie of many years, Peter can often be found on the water. Otherwise, he and his wife spend time with their friends and extended family.

Sandy Gilbert

Sandy was admitted to the Institute of Chartered Accountants in 1973 and has been a Fellow since 1983. He gained extensive experience in auditing and accounting services over seven years at Pannell Kerr Forster before joining Rundles in 1973. Sandy is married with three children. A former amateur footballer of some note, Sandy is still an avid follower of the game and enjoys weekends at his country retreat.