Your Business Activity Statement (BAS) is lodged on a regular basis. Activity statements must be lodged and paid on time. Reporting labels include: Goods and Services Tax (GST), Fuel Tax Credits, PAYG Income Instalments, Fringe Benefits Tax Instalments, Luxury Car Tax, Wages and Pay As You Go (PAYG) withholding.
GST refers to your goods, services and activities rather than your business income. The current GST in Australia is 10 percent on most services, goods and other additional items that are sold or consumed in Australia.