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GST and Activity Statements - Introduction, Preparation and Reconciliation
Introduction
CEO Introduction
GST and PAYG In Australia
Introduction to GST
Australian Business Number
Choosing an Accounting Method for GST
Items that do NOT attract GST in Australia
Record Keeping and Valid Tax Invoices
GST on Imported Goods
How businesses report GST
Type of Activity Statements
Business Activity Statement (BAS)
Instalment Activity Statements (IAS)
Annual GST Returns
PAYG Withholding labels (IAS and BAS)
Common mistakes made when preparing BAS' and IAS'
Summary of section
Reporting Methods
Simpler BAS
Full Reporting Method
GST Reporting Periods
Reporting Methods - Review
Lodgements and Due Dates
How to lodge and Authority to lodge - INTERNAL
How to lodge and authority to lodge - EXTERNAL
Who can sign on behalf of a client? INTERNAL
Monthly Lodgements
Quarterly Lodgements
Electronic Lodgement Extension and Tax Agent Lodgement Program
Preparation of Activity Statements
Introduction
Templates & Resources
Using the worksheet (12:08)
Navigating the different reports in the ATO Portal (2:46)
Review of Activity Statements (8:29)
Errors and Adjustments - BAS & IAS
Definition of a GST Error
GST ERRORS that CANNOT be corrected on a later activity statement
GST adjustments are NOT errors
A Debit error and a Credit error - there is a difference
Debit Error Corrections on Activity Statements
Claiming a GST CREDIT on a later activity statement
Credit Error Time Limit
GST Adjustments
Amendment of Business Activity Statement
Amending PAYG Withholding errors
Review: Errors and Adjustments BAS/IAS
On - job recording for Preparation of BAS - June
Preparation of June BAS (44:05)
Record Keeping and Valid Tax Invoices
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