An Activity Statement is a document lodged to the ATO either on a monthly, quarterly or annual basis. The frequency of lodgement will be determined by the business turnover or annual withholding tax withheld. Small businesses generally lodge on a quarterly basis.
Activity statements can be lodged on a cash or accrual basis. This also is determined by the size of the business. As a general rule, small businesses lodge on a cash basis making cash flow a little easier.
Activity Statements can include the following items:
Wine Equalisation Tax
Luxury Car Tax
Ask Jeffkins Accountancy as your Melton small business advisor if your Activity statement is set up correctly.