You must maintain or will be able to maintain professional indemnity insurance

You must maintain or will be able to maintain

This preview shows page 40 - 44 out of 55 pages.

Business Activity Statement, Assessment 1, v1.1 Page 40
Image of page 40
c)Can BAS agent provide payroll services? (0.50 Marks) d)Discuss the scope of BAS agent in payroll services. (0.50 Marks) e)Who else can provide payroll services? identify the need for independent expert advice providers. (0.50 Marks) Task 12 (2 Marks) - PAYG & HELPInstruction for student: This is an individual task. You need to calculate PAYG Tax and HELP debt for the followingemployees (Use current year Weekly tax table and Weekly HELP table available in ATO website) assuming all employees are residents below. Employee TFN Quoted Tax Free Threshold Claimed Weekly Wage PAYG Tax HELP Net Wages Business Activity Statement, Assessment 1, v1.1 Page 41
Image of page 41
Alberto Matador NO NO $431.00 103 328 Lance Livestrong YES YES $687.00 74 613 Robbie McEven YES NO $775.00 221 554 Cadel Stevens YES YES $690.00 74 616 Stuart McGrady NO NO $520.00 133 387 Total 3103 605 2498 Task 13 (3 marks) - PAYG, Pay Frequency & Withholding CalculationInstruction for student: This is an individual task. You need to fill the following table using appropriate tax table fromATO website (Please show your calculations / break down below the table). Allthese employees have worked 52 weeks in the 2014- 2015 financial year. Business Activity Statement, Assessment 1, v1.1 Page 42
Image of page 42
Yearly Income ($) Resident/ Non Resident Tax File Number Pay Frequency Pay / Pay Frequency (Gross Pay) Withholding Tax/ Pay Frequency Yearly Withholding Total 18200 Non Resident Not Quoted Weekly 350 164.5 185.5 182000 Resident Quoted Forth Nightly 7000 2257 4743 76000 Resident Not Quoted Forth Nightly 2939.08 1315.38 1607.69 92000 Resident Quoted Weekly 1769.23 450 13319.23 90000 Non Resident Quoted Forth Nightly 3461.54 1140 2321.54 45000 Resident Quoted Weekly 865.38 136 729.38 36000 Non Resident Quoted Weekly 692.31 197 495.31 25000 Resident Quoted Weekly 480.77 30 450.77 32000 Resident Quoted Weekly 615.38 62 553.38
Image of page 43
Image of page 44

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture