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The business activity statement (BAS) is a form submitted to the Australian Taxation Office by all businesses to report their taxation obligations. These include payg withholding (PAYGW), payg instalments (PAYGI), fringe benefits taxes (FBT), wines equalisation tax (WET) and luxury car taxes (LCT). PAYGW may also be known as “Income Tax Withholding (ITW),” PAYGI is sometimes known as “TAX Instalments (ITI)”. There are a variety of different BAS forms which an company can complete. The proper execution which a business receives depends on what taxation liabilities an organisation has (these are referred to as roles).
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