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ATTACHMENTS Ordinary Meeting of Council Tuesday 23 May 2023ORDINARY COUNCIL MEETING ATTACHMENTS 23/05/2023TABLE OF CONTENTS Report No. CCS525 CCS526 CCS527 CCS528 CCS529 DIS348 DIS349 DIS350 DIS351Description Corporate
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Gather all financial documents for the month of March, including bank statements, receipts, invoices, and any other relevant paperwork.
02
Organize the documents in a chronological order to ensure accuracy when filling out the statement.
03
Start by recording all incoming funds or revenue for the month, detailing the sources and amounts.
04
Next, list all expenses incurred during the month, categorizing them appropriately (e.g. utilities, rent, supplies).
05
Calculate the net income by deducting total expenses from total revenue.
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Include any additional notes or explanations for significant financial transactions or discrepancies.
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Review the completed statement for any errors or omissions before finalizing it.

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Business owners who want to track their financial performance for the month of March.
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Accountants or financial analysts who need to prepare reports or analyze the company's financial standing.
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Tax professionals who require the statement for tax filing purposes.
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Investors or stakeholders who want to assess the financial health of the business.
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Government agencies or regulatory bodies that request financial statements for compliance or auditing purposes.
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The Financial Activity Statement (FAS) for March is a report that businesses and organizations submit to detail their financial activities for the March quarter. This statement typically includes information on revenue and expenses, GST collected and paid, and other financial transactions.
Businesses and entities that are registered for Goods and Services Tax (GST) in Australia are required to file the Financial Activity Statement for March. This includes sole traders, partnerships, companies, and non-profit organizations that have a taxable turnover above a certain threshold.
To fill out the Financial Activity Statement for March, businesses need to gather their financial records for the quarter, including invoices, receipts, and bank statements. They must then calculate their total sales and purchases, determine the GST amounts collected and paid, and complete the relevant sections of the form, ensuring accurate reporting of all financial activities.
The purpose of the Financial Activity Statement for March is to provide the government with an overview of a business's financial activities during the quarter. It enables proper tax assessment and compliance with GST obligations, helping to maintain the integrity of the taxation system.
On the Financial Activity Statement for March, businesses must report their total sales, total purchases, GST collected on sales, and GST paid on purchases. Additionally, any adjustments related to GST or other tax obligations must be included in the report.
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