A Business Activity Statement (BAS) is a form submitted to the Australian Taxation Office (ATO) by businesses to report and pay various taxes within a specific period. This comprehensive statement includes taxes such as the Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, PAYG instalments, as well as other obligations like Fringe Benefits Tax (FBT), Luxury Car Tax (LCT), and Wine Equalisation Tax (WET).
The BAS is designed to make tax reporting simpler for businesses by consolidating multiple tax obligations into a single form. It's an essential component of tax administration for Australian businesses, ensuring that they comply with their tax responsibilities in a timely and accurate manner.