21. A BAS Agent is only qualified to provide services and give advice within the scope of their qualifications and registration. Identify which of the following activities would be outside a BAS Agent’s scope for providing services or advice:
|
Activity |
Out of scope (Yes or No) |
|
Preparing a BAS |
|
|
Preparing an IAS |
|
|
Preparing
an income tax return |
|
|
Giving
advice about superannuation guarantee |
|
|
Giving advice about salary sacrifice
arrangements |
|
|
Calculating Luxury car tax |
|
|
Calculating fringe benefits tax |
|
22. As a registered BAS Agent you have been preparing financial statements and lodging BAS documentation for Ken and Julie White for number of years in regards to their Courier business which operates as a partnership. The Whites have recently notified you that they are divorcing but will continue to operate the business. They have requested that you continue to do the bookkeeping work for each of them separately.
a) Explain if this represents a conflict of interest under the TPB Code of Professional Conduct?
b) How would you deal with this situation to ensure you do not breach the code?
c) What are the possible consequences of breaching these ethical guidelines?
23. What procedure should a BAS Agent follow if they need to share client information with a third party, for example if cloud computing is to be used and client data stored on the provider’s server?
24. A BAS Agent is required to maintain competency in relation to the services provided. Identify 3 areas where you believe you need to update your knowledge. For each one research available professional development opportunities and note the details of an appropriate seminar, training course or other activity which could improve your competency.
|
|
Identified area for
improvement |
Available professional development |
|
Example |
MYOB
Payroll processing |
MYOB
Classroom training – Payroll + STP 2 day course run through myob.com.au |
|
1 |
|
|
|
2 |
|
|
|
3 |
|
|
25. What type of income is subject to PAYG withholding?
26. What should you do if you receive an invoice from a supplier which does not contain a valid ABN?
27. Should the following amounts have PAYG instalments be paid on the following amounts?
|
Sales income excluding GST |
Yes /
No |
|
Interest received |
Yes /
No |
|
Gross wages received |
Yes /
No |
|
Monthly salary received |
Yes /
No |
|
Net business income |
Yes /
No |
|
Franked dividends received |
Yes /
No |
|
Partnership distribution received |
Yes /
No |
28. In what way is the treatment of GST free sales different to the treatment of input taxed sales if they both have 0% GST?
29. What are the key items must appear on a document for it to be treated as a tax invoice for a sale of over $1000?
30. Two invoices appear below each containing 3 problems which make it not acceptable as a tax invoice. Identify the 3 errors on each.
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