Assessment Task 1
Part A:
In this part you will be required to research and describe;
1. Briefly describe taxation legislations that covers provisions of GST and related services; in particular;
o Tax Agent Services Act 2009 (TASA 2009)
o Fringe Benefits Tax Assessment Act 1986
o Superannuation Guarantee (Administration) Act 1992
o Superannuation Guarantee Charge Act 1992
o A New Tax System (Goods and Services Tax) Act 1999
o Income Tax Assessment Act 1997
o Income Tax Assessment Act 1936
o Taxation Administration Act 1953
o Privacy Act 198
2. Regulatory requirements for preparation and lodgement of BAS for (for comparison purpose);
a) Sole traders
b) Companies
c) Not-for-Profit organisations
d) Discretionary trusts
Part B:
1) Obtain a sample BAS calculation worksheet from ATO website (www.ato.gov.au) and;
Describe each code used by ATO under Sales, Purchase, and GST Adjustment (Example: G3 – Tax Free Sales). List codes in a tabular format with a separate column for each of the above areas
2) Describe and provide examples of;
▪ Taxable Sales
▪ GST free Sales
▪ Input Taxed Sales
▪ Out of Scope Sales
Assessment Task 2
Part A: BAS and Instalment Exercises
Assessment Task 2: Part B: BAS Summary Report