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 21

    As overseas travel became more common in the 1960s, the ATO stopped issuing tax clearance certificates (which had previously reminded Australians planning on travel that they must ensure they had paid all tax owed prior to leaving the country).

Self-managed super fund (SMSF)

A super fund set up and operated by an individual or group of people for their own retirement benefit.

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