Answer to Question #79837 in Finance for Hugh Heron

Question #79837
The activity statement allows a business to calculate obligations, allowing a single payment or refund for each reporting/ payment period, across the taxes.

For example, 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?
1
Expert's answer
2018-08-20T10:03:08-0400
Business must pay FBT and separate Income Tax. FBT based on the initial data should be $1,000.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS