Australian Government to Allow Immediate Deferment of GST Payment
24th April 2020
Dear Valued Clients,
The Australian Government has announced that GST-registered importers may now be able to defer their GST payments on all taxable imported goods until the first activity statement is lodged rather than payment up front.
To do so, firms must;
- Check eligibility with the ATO.
- Change quarterly lodgement to monthly.
- After 24 hours have passed, lodge your application to defer your GST.
- Wait three days for the Australian Border Forces System to process your application.
If this is something that interests you, please do not hesitate to contact us with any questions that you may have.
Also note that those already registered to do so will not be affected by this and will require no additional action to be taken.
Freight On Board International Services Pty Ltd.