Version
2023
Original Published Date
Status
Current
Tax Category
Tax preparation
Resource Type
Statement of formula / rates and thresholds
Description
From 1 July 2022, the GDP adjustment of 2% will apply for the 2022-23 income year. This is used to work out quarterly GST and PAYG instalment amounts. This was announced in the 2022-23 Budget and is law.
- Taxpayers with a substituted accounting period (SAP) whose income year commenced on 1 January, 1 February or 1 March 2022 will have a 2021-22 GDP adjustment of 0%. This is because their income year started before the current year’s GDP adjustment factor of 2%.
- Taxpayers starting their income year from 1 April 2022 will have a GDP adjustment of 2%.
| Title | Version | Authored on |
|---|---|---|
| GDP adjustment for 2022-23 GST and PAYG instalments | 2023 | 21 Jun 2022 |
| GDP adjustment for 2021-22 GST and PAYG instalments | 2022 | 18 May 2021 |
| GDP adjustment for 2019-20 GST and PAYG instalments | 2020 | 14 Jun 2019 |
| GDP uplift factor for 2019 PAYG instalments | 2019 | 06 Jun 2018 |
| GDP uplift factor for 2018 PAYG instalments | 2018 | 12 May 2017 |
| GDP uplift factor for 2017 PAYG instalments | 2017 | 12 May 2017 |
| GDP uplift factor for 2016 PAYG instalments | 2015 | 18 May 2015 |
| GDP uplift factor for 2015 PAYG instalments | 2014 | 12 May 2014 |
Last modified date