2024 GST Rate Preparation Checklist

Key steps and distinctions

The checklist covers accounting and invoicing software, cash registers and point-of-sale receipts, public price displays, staff training, existing contracts and customer communications. Systems must support both the new rate and the correct treatment of transactions crossing the change date; simply replacing a single rate field is insufficient where transitional supplies remain. Staff need to distinguish invoice, payment and performance dates and handle reverse-charge purchases as well as sales. Review which party bears the tax under contracts and update advertisements, websites and brochures consistently with GST-inclusive price-display requirements. Inform customers of the rate applicable at the time of supply. Import/export businesses are prompted to consider the Major Exporter Scheme under its separate conditions. This one-page document is a preparation tool accompanying Annex C of the 2024 rate-change guide, not a return, election form or approval request. Its purpose and dates relate to the 8%-to-9% transition; historical transactions still need the detailed guide’s rules and evidence.