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TERM 3 ACTIVITY STATEMENT KINDERGARTEN Dear Parents and Guardians, Each term Earhart Public School issues an Activity Statement that outlines the cost of special events and programs. This statement
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How to fill out term 3 activity statement
How to fill out term 3 activity statement?
01
Gather all necessary financial records and documents, such as income statements, expense receipts, and tax invoices.
02
Begin by providing your business and personal information, including your name, ABN (Australian Business Number), and contact details.
03
Enter the accounting period for the activity statement, indicating that it is for term 3.
04
Report your business income in the appropriate field, ensuring that you include all sources of revenue generated during the designated period.
05
Deduct any goods and services tax (GST) credits you are eligible for by inputting the corresponding values into the designated fields.
06
Declare any business expenses you have incurred, categorizing them appropriately and including the total amounts for each category.
07
Calculate the GST payable by subtracting the GST credits from the total GST collected.
08
Enter any other adjustments or adjustments you need to make, such as adjustments for private use or changes in creditable purpose.
09
Provide any additional information or explanations as required to support the accuracy of the activity statement.
10
Review the completed activity statement, ensuring that all information is accurate and all mandatory fields are filled correctly.
11
Submit the activity statement to the relevant tax authority by the specified deadline.
Who needs term 3 activity statement?
01
Businesses registered for Goods and Services Tax (GST) with Australian Business Number (ABN).
02
Individuals or sole traders who are required to report and pay GST.
03
Entities conducting business activities in Australia with an annual turnover exceeding the GST threshold (currently $75,000 for most businesses, or $150,000 for non-profit organizations).
Note: The specific requirements for term 3 activity statements may vary based on individual circumstances and relevant tax regulations. It is advisable to seek professional advice or refer to official tax guidelines for accurate and up-to-date information.
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What is term 3 activity statement?
Term 3 activity statement is a document that summarizes the financial activities of a business for the third quarter of the year.
Who is required to file term 3 activity statement?
Businesses and individuals who have financial activities during the third quarter of the year are required to file the term 3 activity statement.
How to fill out term 3 activity statement?
Term 3 activity statement can be filled out either manually or online through the relevant tax authority's website.
What is the purpose of term 3 activity statement?
The purpose of term 3 activity statement is to report financial information to the tax authority for the third quarter of the year.
What information must be reported on term 3 activity statement?
Information such as income, expenses, taxes paid, and other financial activities for the third quarter of the year must be reported on the term 3 activity statement.
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