Write a 2,500 word paper explaining the role of the BASagent—what a tax or...

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Accounting

Write a 2,500 word paper explaining the role of the BASagent—what a tax or BAS agent must do with regard to preparationand lodgement of BAS and IAS forms. (AUSTRALIAN TAX)
Explain what GST is, how the BAS applies and why it is used.
In the paper answer these questions:
1. What legislation needs to be complied with and whatprocedures need to be followed to comply with legislation,regulations and the Code of Professional Conduct?
2. What is a tax agent service?
3. What materials or sources will you use to review, interpretand apply legislation related to taxes reported on activitystatements?
4. What reconciliation procedures will you follow?
5. How will you identify lodgement schedule requirements andensure sufficient funds are available?
6. How will you process accounting data to comply with taxreporting requirements?
7. What payroll activities will be reported on and whatreconciliation activities will be involved?
8. What forms will be required and how will the BAS and/or IASbe lodged?

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4.3 Ratings (618 Votes)

BAS agents can advise ascertain provide certainty and represent a client to the commissioner on BAS services which means they can Design a system in respect to business and the BAS provisions Advise a business in respect to business and the BAS provisions Do everything a bookkeeper can do Review reports to verify their accuracy for the correct See Answer

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In: AccountingWrite a 2,500 word paper explaining the role of the BASagent—what a tax or BAS...Write a 2,500 word paper explaining the role of the BASagent—what a tax or BAS agent must do with regard to preparationand lodgement of BAS and IAS forms. (AUSTRALIAN TAX)Explain what GST is, how the BAS applies and why it is used.In the paper answer these questions:1. What legislation needs to be complied with and whatprocedures need to be followed to comply with legislation,regulations and the Code of Professional Conduct?2. What is a tax agent service?3. What materials or sources will you use to review, interpretand apply legislation related to taxes reported on activitystatements?4. What reconciliation procedures will you follow?5. How will you identify lodgement schedule requirements andensure sufficient funds are available?6. How will you process accounting data to comply with taxreporting requirements?7. What payroll activities will be reported on and whatreconciliation activities will be involved?8. What forms will be required and how will the BAS and/or IASbe lodged?