The activity statement allows a business to calculate obligations, allowing a single payment or refund...
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Accounting
The 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 $6,000 a PAYG withholding liability of $1,500, and an FBT liability of $1,000 Would the business need to make any payments? Explain your answer. 3050 words
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