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BAS (Business Activity Statement) and IAS (Instalment Activity Statement) are both tax reporting tools used in Australia. BAS is primarily for businesses registered for Goods and Services Tax (GST) and is used to report GST, Pay As You Go (PAYG) withholding, and other tax obligations. IAS is typically for individuals or entities that pay PAYG instalments and do not need to report GST. Both statements help ensure compliance with tax regulations and facilitate accurate reporting to the Australian Taxation Office (ATO).

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AnswerBot

1mo ago

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