Which of the following information is available to the public through the ABS
Ask Expert

  • Your study cart is empty!

Be Prepared For The Toughest Questions

Practice Problems

Which of the following information is available to the public through the ABS

11. The Australian Bureau of Statistics Act 1975 empowers the Australian Bureau of Statistics (ABS) to collect information. Which of the following information is available to the public through the ABS? 

An individual’s taxable income for the current tax year 

The Prime Ministers current salary

The Australian average weekly earnings

Worldwide average weekly earnings 

12. Select the amounts which are included in wages for calculating WorkCover:

 

Yes

No

Directors’ wages

Mileage allowances

Site allowances

Casual wages

Superannuation Guarantee handshake

Annual leave


13. Provide a brief explanation of the following terms:
a) Australian Business Number (ABN)
An Australian Business Number is a unique 11 digit number that identifies your business to the government and community. It doesn’t replace your tax file number, but it is used for various tax and other business purposes.
b) Tax File Number Declaration 
A TFN declaration applies to payments made after the declaration is provided to you. The information provided on this form is used to determine the amount of tax to be withheld from payments based on the PAYG withholding tax tables we publish. 
c) PAYG Withholding (PAYG W/H)
It requires you to pay incremental amounts of your business’s income to the ATO. These payments accumulate towards your expected end of year income tax liability. Before you lodge your income tax return, it is important to finalise your PAYG instalments.
d) PAYG Instalment (PAYG I)
It is a program of pre-praying tax instalments towards your expected tax liability on your business and investment income. It is not to be confused with PAYG withholding which is related to wages and salaries.
e) Fringe Benefits Tax (FBT)
It is a tax payable by employers for benefits paid to an employee in place of salary or wages.

14. a) What records are required to be kept in relation to payroll?
b)  How long are payroll required to be kept?

15. Where would you go to obtain specialist advice or information regarding:
a) Wages and entitlements?
b) PAYG Withholding requirements?
c) Payroll record keeping requirements?
d) WorkCover?

16. a) What are the requirements for registration as a BAS Agent?
b) Under what legislation are these requirements set?

17. Briefly explain two aspects of the Code of Professional Conduct which a BAS Agent must comply with.  
Provide an example of how one of these relates to Payroll procedures and an example of how one relates to BAS preparation.

18. Who is required to be registered as a BAS Agent?
 
19. In the table below identify which activities would be regarded as a BAS service:

Activity

BAS service (Yes or No)

Entering purchase invoices to a computerised accounting system and choose GST codes

 

Calculating PAYG on wages payable

 

Writing up a manual cash book with a GST column

 

Reconciling the bank account (no additional entries)

 

Preparing sales invoices which include GST

 

Setting up a MYOB file with GST codes on accounts

 

Calculating LCT payable for a car dealer

 

Calculating the PAYG instalment for a sole trader not registered for GST

 

20. What is the current penalty for providing a BAS service without registration?
Hint
Accounts and Finance"Australian Bureau of Statistics contains many things. They include national statistical system which has economic statistics program, population and social statistics program. Also it has data on how it operates such as management of information technology, financial statements such as independent auditor’s report and contact details and usernames."...
Related questions

Know the process

Students succeed in their courses by connecting and communicating with
an expert until they receive help on their questions

1
img

Submit Question

Post project within your desired price and deadline.

2
img

Tutor Is Assigned

A quality expert with the ability to solve your project will be assigned.

3
img

Receive Help

Check order history for updates. An email as a notification will be sent.

img
Unable to find what you’re looking for?

Consult our trusted tutors.

Ask a Question

Developed by Versioning Solutions.