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user113's avatar
user113
Contributing User
3 months ago
Solved

Paying GST

I pay my GST in instalments. Do I just enter this via Spend Money tab? What is the notify ATO via TPAR checkbox for?  
  • Doreen_P's avatar
    Doreen_P
    3 months ago

    Hey @11331759,

     

    You can record your GST instalments using Spend Money. The Notify ATO via TPAR checkbox is only for marking a supplier or payment as reportable so it appears in the Taxable Payments Annual Report that MYOB creates for ATO lodgement.

     

    Cheers,

    Doreen

DuncanS's avatar
DuncanS
Ultimate Partner
1 month ago

user113​ Julie_A_C​ Doreen_P​ 

 

From my experience, paying GST by Instalment is somewhat unusual.

 

I presume your Tax Accountant would then do an Annual GST Return.

 

You would have a Current Asset Account called GST Instalments.

Over a FY, it would have 4 Payments.

At 30 June, there would be an Account called Annual GST Refund which would be a Current Asset or Annual GST Owing which would be a Current Liability.

 

Duncan

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