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 business 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 business lodges on a cash basis making cashflow 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 setup correctly.