Task 1 Scenario

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?