What is activity statement 003? And what funds appear in this account? I’m just trying to understand why I have this?
Also, is it wise to withdraw a refund from this? I find that I can do that but not sure if that is wise or not in case I need it for something etc…
Hi @Bradtaorei
The activity statement account is where you report or pay things relating to business activity statements. It can include things like GST, PAYG withholding and PAYG instalments.
The '003' at the end is just an account number meaning its account number 3. Usually, your income tax account is number 1 (001) and then each subsequent account will be 2, 3, 4 etc.
As for whether you should withdraw a refund, it depends on what the credit is for. If the credit is a refund from an activity statement, it should refund automatically if your bank details are up to date. If its's an overpayment, you can request a refund or transfer.
Hi @Bradtaorei
The activity statement account is where you report or pay things relating to business activity statements. It can include things like GST, PAYG withholding and PAYG instalments.
The '003' at the end is just an account number meaning its account number 3. Usually, your income tax account is number 1 (001) and then each subsequent account will be 2, 3, 4 etc.
As for whether you should withdraw a refund, it depends on what the credit is for. If the credit is a refund from an activity statement, it should refund automatically if your bank details are up to date. If its's an overpayment, you can request a refund or transfer.
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