GDP adjustment for 2024-25 GST and PAYG instalments

From 1 July 2024, the gross domestic product (GDP) adjustment factor of 6% will continue to apply for the 2024-25 income year. This is used to work out quarterly GST and PAYG instalment amounts:

• Taxpayers with a substituted accounting period (SAP) whose income year commenced on 1 January, 1 February or 1 March 2023 will continue to use the 2023–24 GDP adjustment of 6% until their new income year, which will also be 6%. 
• Taxpayers starting their income year from 1 April 2023 will have a GDP adjustment of 6%.