Businesses use activity statements to pay and report various tax obligations, including FBT instalments, PAYG (instalments and withholding), GST, and related tax obligations. They also use activity statements to pay deferred company and superannuation fund instalments. Individuals use activity statements to pay quarterly PAYG instalments.
The ATO website provides instructions on how to complete sections of the activity statement:
- GST (Goods and Services Tax)
- PAYG (Pay As You Go) Installments
- FBT (Fringe Benefit Tax)
- LCT (Luxury Car Tax)
- WET (Wine Equalisation Tax)
- Fuel Tax Credits
- PAYG (Pay As You Go) Withholding
If your annual turnover is less than $20 million, you can lodge your Business Activity Statement (BAS) monthly or quarterly. However, if your annual turnover is $20 million or more, you must lodge your Business Activity Statement and make payments electronically every month.