FNSTPB401 Assessment Tasks 2

Assessment Task 2 Instructions
Complete the following activities:
1. An organisation that is an accruals quarterly payer has completed the BAS for the third quarter
in the tax year.
 By what date must this be reported and lodged?
Lodgement and payment dates on 28 April
 If the organisation had chosen to report monthly, by what date would the March BAS need
to be lodged?
Self-Lodged Due Tax Agent Lodgement
Monthly Reporting 1
Date Extension 2
All Months, except
21st day of month after No Extension
December
December 21 January 21 February
1. Complete the following table by placing a  to indicate reporting requirements.
BAS and IAS reporting requirements
Quarterly Monthly Accruals

Gross annual turnover of sales reporting reporting Cash payer payer
Less than $2 million √ √
More than $2 million √ √
Less than $20 million √
More than $20 million √
Annual PAYG withholdings √
Less than $25,000 √
More than $25,000 √
FBT liability greater than $3,000 √
2. In the second quarter of the tax year a quarterly paying firm makes taxable supplies (sales) of
$122,000. They have tax invoices to the gross value of $55,000 all entitled to input tax credits.
Calculate their entitlement to input tax credits and liability to output tax payable as well as the
net GST owing to the ATO for the quarter.
FNSTPB401 Complete business activity and instalment activity statements
3. A firm that is registered for GST and delivers architectural services has made the following
outputs (or supplies) in the tax period.
Calculate the GST payable for the period using the table below.
$ Taxable Exports GST-free Input Taxed

Services 450,000
Export supplies 25,000
Other GST-free supplies 4,400
Residential rent 6,600
Commercial rent 13,200
Interest received 500
Sale of asset 2,200
Total outputs 501,900
4. You receive an invoice from a supplier for a total of $4,400 and you notice that no ABN is
quoted. On checking with the supplier, you are told he has not yet requested an ABN. What
amount will you pay the supplier?
Cass Training Pty Ltd t/a Cass Training International College RTO No. 90309 CRICOS Provider No. 00956C Page | 2
© RTO Works 2020 Assessment Booklet V 21 Jul 2021
5. Complete the Instalment Activity Statement below using the following information:
 An invoice totalling $5,505 did not have an ABN so the business withheld the mandatory
amount from the payment to the supplier.
 From the payroll report the gross salary and wages for the quarter was $120,000
 PAYG withholding tax from the gross wages was $24,515
 Amount withheld from $5,000 interest paid to a non-resident.
PAYG tax withheld

For the QUARTER from 1 Oct 20XX to 31 Dec 20XX
Total salary, wages and other

W1 $ .00
components
Amount withheld from payments

W2 $ .00
shown at W1

Amount withheld where no ABN
W4 $ .00
is quoted
Other amounts withheld

(excluding any shown at W2 or W3 $ .00
W4)
Total amounts withheld (W2 +

W5 $ .00
W4 + W3)
6. Robert has just joined your organisation. His annual salary is $102,000. Robert has a HELP
debt. Calculate Robert’s compulsory HELP payment.
7. This is a list of GST-inclusive revenue received for the quarter by a company. Calculate the
PAYG instalment income, showing your calculations.
Account $ Instalment income

Sales and supplies 330,000
Export supplies 125,000
Residential rent received 7,700
Commercial rent received 11,000
Interest received 250
Sale of asset 990
Totals outputs 474,940
8. Create a GST Invoice with the following details:

 Barry’s Building Supplies ABN 43 567 897 098
 Date (use today’s date)
 Tax Invoice number: 1
 To: Sharon Stone, 56 Tilly Drive, Sydney NSW 2000
 For: supply of 100 slate roof tiles at $5 each.
9. William works for Jack’s Mowers as a casual labourer. This week he has worked 30 hours at
$25 per hour. What amount must Jack pay William and what amount is owed to the ATO to be
paid through the IAS?
10. Barry Thomas has been working full-time for Jack’s mowers for several years, earning $52,000
per annum. He has been paying PAYG at $2,379 each quarter.
Due to internal business restructuring, however, he will now be working part-time, and his will
earn only $39,000 this year.
Print out IAS N Form Student, fill it out for Barry, and hand it to your assessor.

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Assessment Task 2 Instructions

Complete the following activities:

1. Complete the following table by placing a  to indicate reporting requirements.

BAS and IAS reporting requirements

Quarterly Monthly Accruals

$ Taxable Exports GST-free Input Taxed

PAYG tax withheld

Total salary, wages and other

Amount withheld from payments

Other amounts withheld

Total amounts withheld (W2 +

Account $ Instalment income

8. Create a GST Invoice with the following details:

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