How is business tax collected?

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A business activity statement (BAS) is used by businesses to report and pay tax obligations. Prepare a sample BAS and discuss strategies for keeping business records.

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  • Fact 6

    'Bottom of the harbour' schemes were a form of tax avoidance used in Australia in the 1970s. The 'harbour' referred to was Sydney Harbour, which was near the financial district. Participation in the schemes was made a criminal offence in 1980.

Growth phase

A superannuation investment prior to the time when an individual can withdraw funds.

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