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This unit describes the performance outcomes, skills and knowledge required to process business taxation requirements related to Business Activity Statements (BAS) and Instalment Activity Statements (IAS), including the completion of Activity Statements. This unit has application to a variety of financial services sectors. It is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements, including various aspects of taxation law (including but not limited to the Income Tax Assessment Act 1936, and the Income Tax Assessment Act 1997), other relevant legislation and Goods and Services Tax (GST) rulings. The Tax Practitioner's Board (TPB) administers specific educational and experience requirements for registration of BAS agents and sets specific assessment requirements that must be met. The varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Contents include:
- Unit 1 Introduction
- Unit 2 Statutory, legislative and other requirements
- Unit 3 Reporting GST using the Accounts method
- Unit 4 Tax codes and the Calculation Worksheet method
- Unit 5 Entering GST transactions in AccountRight
- Unit 6 Other GST and tax issues
- Unit 7 Payroll and the Activity Statement
- Unit 8 Calculating and reporting the PAYG Instalment
- Unit 9 Preparing the Business Activity Statement
- Unit 10 Correcting GST errors
Outline
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