A business activity statement allows a business to calculate obligations, allowing a single payment or refund for
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Question:
A business activity statement allows a business to calculate obligations, allowing a single payment or refund for each reporting/ payment period, across the taxes. If in a quarterly reporting/ payment period, a business had:
- a GST credit of $15 000
- a PAYG instalment liability of $6000,
- a PAYG withholding liability of $1500, and
- an FBT liability of $1000
Would the business need to make any payments?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: