Answer to Question #81084 in Finance for Like Heron

Question #81084
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 (Would this go to 1A or 1B)
a PAYG instalment liability of $6,000 (would this go to 5a)
a PAYG withholding liability of $1,500,(would this go to 4) and
an FBT liability of $1,000 (i don't know where this one would go)
What places on the BAS would these amounts go and what would the payment from these amounts add up to
Expert's answer
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