FNSTPB401 Assessment Tasks 2
FNSTPB401 Assessment Tasks 2
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
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.
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?
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FNSTPB401 Complete business activity and instalment activity statements
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.
6. Robert has just joined your organisation. His annual salary is $102,000. Robert has a HELP
debt. Calculate Robert’s compulsory HELP payment.
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FNSTPB401 Complete business activity and instalment activity statements
7. This is a list of GST-inclusive revenue received for the quarter by a company. Calculate the
PAYG instalment income, showing your calculations.
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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