Cancelling GST Registration

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 · Accepted Answer

BlakeATO · Answer

You've done almost all the work already! For any asset you don't sell, you'll need to complete an adjustment on the last activity statement, depending on how long ago the asset was purchased. If the asset was purchased longer than the number of the adjustment periods (that is, full financial years) you have to make the change, no adjustment will be required. If the asset was purchased within the adjustment periods, you'll need to complete an adjustment event. The formula to calculate it is (applicable value Ãƒâ€' actual application) ÃƒÂ- 11. There's more on our website for what this means and how to work it out. You can working out when adjustment periods expire and get help calculating adjustments on our website :)

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