What is BAS?

30/1/2016

BAS stands for Business Activity Statement. It is a form prepared and lodged with the Australian Taxation Office (ATO) to report tax obligations which include:

Goods and Services Tax (GST)
Pay-As-You-Go Withholding (PAYGW)
Pay-As-You-Go Instalment (PAYGI)
Fringe Benefits Tax (FBT)
Wine Equalisation Tax (WET)
Luxury Car Tax (LCT)
Amounts withheld where no ABN is quoted
Other instalments

Depending on how small or big a business is based on the turnover or sales, a business can have a monthly, quarterly or a yearly BAS. Most small businesses do their BAS quarterly.

ACCOUNTS UNPLUGGED

What is BAS?

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