In the 2011-12 Budget the Government announced that it will extend the current goods and services tax (GST) instalment system to allow access for small businesses that are in a net refund position.
This will enable those small business taxpayers who are paying their GST by instalmentsd and subsequently move into a net refund position to continue to use the GST instalments option if they wish to do so.
The proposed amendments will also provide that taxpayers who move into a net refund position and who wish to continue to pay GST by instalments receive an instalment amount each quarter of zero.
Small business taxpayers who are currently not using the instalment option and are already in a net refund position will remain ineligible to pay their GST by instalments while they remain in a net refund position.