A BAS statement, or Business Activity Statement, is a form businesses use to report taxes to the government. It helps track how much GST, PAYG tax, and other payments you owe or need to claim back. Key parts of a BAS include sales income, GST collected from customers, GST paid on purchases, and employee tax withheld. You may also report fuel tax credits or other business taxes. It is important to fill it out correctly and on time to avoid fines. Keeping clear records of your sales and expenses will make the BAS process easier and help your business stay on track.
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