What is GST?
Australia - GST is generally 10% and can be reported monthly, quarterly, or annually.
New Zealand - GST is generally 15% and can be reported monthly, every 2 months, or every 6 months.
Cash vs Accrual (Invoice) Basis
Your GST basis determines when GST is recognised:
Cash basis - GST is calculated when payments are made or received.
Accruals (invoice) basis - GST is calculated when invoices are issued or received, regardless of payment date.
Float imports your GST basis directly from your accounting platform.
How does Float calculate GST?
Cash basis
VAT/GST is calculated using your forecasted payment dates from budgets.
Accruals basis
Float calculates average payment terms per account from your accounting data.
Larger transactions are weighted more heavily.
Budgets are shifted backwards by this average so GST is recognised in the correct tax period.
Reporting periods & due dates
Australia - Quarterly
Quarter | Period | Due Date |
Q1 | Jul-Sep | 28 Oct |
Q2 | Oct-Dec | 28 Feb |
Q3 | Jan-Mar | 28 Apr |
Q4 | Apr-Jun | 28 Jul |
Monthly: Lodgement and payment are due 21 days after the period end.
New Zealand - Common cycles
Monthly - Due on the 28th of the following month (exceptions: March 31st → 7 May; November 30th → 15 January).
2-Monthly - Default filing frequency. Various cycles with similar 28th-of-month due dates.
Float automatically applies your reporting frequency based on your accounting platform.
Forecasting Options
Same three options apply:
Quick - Default GST % and average payment term per account.
Worst Case - Assumes all income is GSTable, no reclaims on costs.
Advanced - Custom GST rates and partial % per account, plus payment term adjustments.