Business Activity Statement

The business activity statement (BAS) is a form submitted to the Australian Taxation Office by all businesses to report their tax obligations.

These include pay as you go instalments (PAYG)fringe benefits tax (FBT)wine equalization tax (WET) and luxury car tax (LCT). PAYGW is sometimes known as “Income Tax Withholding (ITW),” PAYGI is sometimes known as “Income Tax Instalments (ITI)“.

There is a mixture of different BAS forms which an organization can complete. The form which a business receives depends on what taxation liabilities an organization has (these are referred to as roles). Statements are usually issued quarterly; some roles can be reported at different frequencies depending on business structure and income. Some roles such as GST can be reported annually, subject to eligibility criteria being met.

Although activity statements are frequently submitted quarterly, some entities are required to report obligations on a more frequent basis. Some entities may be required to report PAYG Withholding liabilities or GST monthly.

Every activity statement carries a unique document identification number (DIN). Activity statements can be submitted to the ATO on paper (mail), by phone, electronically (via a Tax Agent’s electronic lodgement system or “ELS”), or through the ATO business portal.

Activity statements are processed by the Australian Taxation Office through its operations sub-plan. Any errors which occur with activity statements are usually handled by a department known as activity statement product (exceptions {ASP(E)}). ASP(E) operates under the operations sub-plan, client account services (CAS) business service line (BSL). Errors may occur when a business client information figures incorrectly, where a client includes cent figures (only dollar figures are allowable), where an arithmetic error occurs, when a statement is submitted when no roles are active for the client, or when the handwriting on a paper statement is illegible.

The business activity statement (BAS) is a tax reporting requirement for businesses issued by us on either a monthly or quarterly basis. It’s used for reporting and paying goods and services tax (GST), pay as you go (PAYG) instalments, PAYG withholding tax and other tax obligations.

When you record for an Australian business number (ABN) and GST, ATO will automatically send you a BAS when it is time to lodge.

All businesses registered for GST are required to lodge a BAS by the due date.

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Wine Equalization Tax

If you make wine, import wine into Australia or sell it by wholesale, you’ll generally have to account for wine equalization tax (WET).

WET is a tax of 29% of the wholesale value of wine. It is only payable if you are registered or required to be registered for GST.

It’s designed to be paid on the last wholesale sale of wine, which is frequently between the wholesaler and retailer. But it might apply in other situation – such as cellar door sales or tastings – where there hasn’t been a wholesale sale. WET is also payable on imports of wine (whether or not you are registered for GST).

If you’re a wholesaler or producer of wine and you’re registered (or required to be registered) for GST, you need to register for WET.

Your business activity statement (BAS) will then have labels for you to report WET payable and any WET credits for each tax period.

If you’re a wine retailer (such as a cafe or restaurant) you don’t need to register for WET except you make wholesale sales or bottle your own wine.

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