2023 GST Rate Preparation Checklist

Key steps and distinctions

Prepare accounting and invoice software, cash registers and receipt systems for the new rate. Check public price displays against the 2023 rate-change guide, train staff on transactions spanning the change and include reverse-charge supplies in that training. Review contracts to establish which party bears increased GST and tell customers how the applicable rate is determined, including communications on websites, advertisements and brochures. Businesses mainly importing and exporting are prompted to consider the Major Exporter Scheme under its separate eligibility conditions. The checklist appears in Annex C of the 2023 guide and is designed for internal preparation; it does not determine an individual transaction’s tax point or make an election. For invoices, payments and delivery falling on different sides of 1 January 2023, use the detailed transitional rules and retain dated evidence. The historical change was from 7% to 8%; a later increase to 9% had its own preparation guide. Keep this checklist identified by its year rather than presenting its old-rate references as current instructions.