BAS Fundamentals - Workshop 2017

Learn the essentials of preparing business activity statements (BAS) from our expert workshop facilitators. Starting with the basics you will work through the various information required to complete a BAS, before practising your skills by actually completing sample BAS paperwork.

Key topics:

  • Basics of GST
  • Introduction to the BAS form
  • Calculation options for GST
  • PAYG withholding and PAYG instalment
  • FBT instalment
  • Calculate net liability
  • Other labels on the BAS
  • Tips and traps
  • Completing the BAS – group and individual

You will receive:

  • A comprehensive learning manual including practical examples, activities and knowledge checks
  • Presentation slides
  • Ample networking opportunities with colleagues over morning and afternoon tea and lunch

Learning objectives

A. Monthly GST payer and quarterly GST payer – reporting quarterly

Using the information supplied for a monthly or quarterly GST payer reporting quarterly, you should be able to:

  • Calculate total sales for a business in a tax period
  • Calculate GST collected on supplies and GST paid on purchases
  • Calculate export supplies and other GST-free supplies
  • Calculate capital acquisitions and other acquisitions

B. Quarterly or annual GST payer – reporting annually

Using the information supplied, you should be able to:

  • Calculate total sales for a business in a tax period
  • Calculate the GST collected on supplies and GST paid on purchases

C. Quarterly GST instalment method

Using the information supplied, you should be able to:

  • State how the ATO will calculate the GST instalment to be paid each quarter
  • Calculate a varied instalment from information supplied

D. Other BAS or IAS information

Using the information supplied, you should able to:

  • Include PAYG withholding information on the BAS or IAS
  • Calculate a PAYG instalment using the ATO instalment rate method or a varied rate
  • Calculate a PAYG instalment using a GDP-adjusted PAYG instalment amount
  • Calculate a varied PAYG instalment amount
  • Calculate a varied FBT instalment

Audience

Anyone in tax accounting roles with responsibility of preparing income tax returns, BAS statements and the preparation of financial statements, whether for an organisation or client.

 

Looking for a customised learning solution for your organisation or team? Contact us today to discuss in-house learning options.

1 day

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