Filing a nil GST return

The situation

Yes. A GST-registered business must file a return for every accounting period, including a nil return.

The law

• Goods and Services Tax Act 1993 and GST (General) Regulations: GST return (GST F5) and payment within one month after each accounting period

What it means for you

Not filing leads to late filing penalties and estimated assessments, even with no activity. If the business has stopped making taxable supplies for good, consider applying to cancel GST registration, which may need GST on remaining assets.

What to do

1. File a nil GST F5.
2. Keep a note of why there was no activity.
3. Review whether to stay registered.
4. If cancelling, check GST on assets held.

Related

• Exempt supplies and input tax
• Late GST return consequences
• Quarterly GST F5 due date
• Getting GST back on unpaid invoices
• Claiming import GST
• Claiming GST on a company car