PAYGW is also known as Income Tax Withholding (ITW). PAYGI is also known as “Income Tax Instalments (ITI).
Business Activity Statements is a required statement, and every business/ organisation has a number of BAS forms that they can complete. The type of form a business can receive depends on what tax liabilities such business has.
Since you will have to track your income and expenses in order for you to report your taxes, BAS helps you to keep track of your business finances, and enables you to make adjustments where necessary.
Businesses can submit their BAS to the ATO:
Errors can occur with activity statements when a business reports figures incorrectly, and errors such as this are usually handled by a department known as ASP(E).
Be informed that late submission of form attracts interests and penalties. You should always be ready to submit before/ on the due date.
Fill out the form below, and we will be in touch shortly to schedule your 2022 tax appointment.