Premier Tax & Bookkeeping - WORKSHOP GUIDES BAS & INCOME TAX RETURN PREPARATION SKILLS
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Premier Tax & Bookkeeping
Beyond the numbers
WORKSHOP GUIDES
BAS & INCOME TAX RETURN
PREPARATION SKILLS
Level 30, 91 King William Street, Adelaide, SA 5000
Ph: 08 7129 8292
E: info@taxbook.com.au
W: www.taxbook.com.au
BAS &Income Tax Returns Preparation Skills
BAS & INCOME TAX PREPARATION SKILLS
1. COURSE DESCRIPTION
This course is designed for bookkeepers, accountants, business owners, managers and
business partners to develop the skills and knowledge required to prepare and lodge
Business Activity Statements (BAS), and income tax returns for individuals and businesses
including, sole traders, partnerships, trusts and companies.
2. COURSE OUTCOME
Successful completion of the course will enable you to:
• Prepare Business Activity Statements using Xero Practice Manger
• Prepare income tax returns for individuals and business including individual, sole
traders, partnership, trust and companies Xero Practice Manger (XPM)
3. ENTRY REQUIREMENTS
The course is only available for current and prospective Premier Tax & Bookkeeping (PTB)
independent contractors to develop the skills and knowledge required to prepare income
tax returns and BAS.
To undertake the course, good computer skills, access to a computer with a reliable internet
connection and a sufficient level of literacy and numeracy are required.
4. DURATION: 16 Weeks
5. MATERIALS
Electronic reading materials are included in the course fee and course content is
accessed via our online student portal. Additional resources, learning materials and
classroom recordings are also available at no cost.
6. STUDY PLAN
For this a part time blended mode course attendance at one 2-hour per week video
conferencing lecture for a period of 12 weeks is required. An additional 4 hours per week of
study outside of your video conferencing lecture is necessary for skill development to
complete practical exercises using XPM.
7. LECTURERS
The workshops are delivered by highly experienced Professional Accountants, and
Registered Tax Agents, who have over 25 years of experience in the bookkeeping industry.
The lecturers’ profile can be accessed by clicking on Peter Lennox, Shan Pasupathy and
Elisabeth Nance.
8. TUTOR SUPPORT
This course is designed to develop independent learning skills and requires the reading
materials, XPM Help Sections and relevant ATO websites to be used before attempting the
learning and development exercises.
1|Premier Tax and Bookkeeping Pty LtdBAS &Income Tax Returns Preparation Skills
9. On completion of the exercises you can check for the correct answers provided in your
online course portal. If you have difficulty understanding answers you can contact the
tutors for support.
10. COURSE FEES: $330 GST Inclusive
11. SOFTWARE ACCESS
Xero Practice Manager (XPM) tax preparation software is included in the course fee
up to 30 June 2021.
12. ASSESSMENTS
In this course you will be provided with real life business transactions and scenarios
and asked to complete and submit the following using XPM.
• Business Activity Statements (1 BAS)
• Income tax returns for individual, sole traders, partnership, trust and Company (one
tax return for each business type – Total 4 Returns)
This is a competency-based assessment and for successful completion you must
demonstrate the ability to competently prepare income tax returns ad BAS. There is no
theory assessment.
The final assessment is a take home assessment you are given one week to complete. If your
final assessment is assessed as not satisfactory, you will have one week to review and
resubmit your assessment.
13. TIMETABLE
Workshops of two hours per week are delivered using video conferencing technology by
experienced Registered Tax Agents and Public Accountants. There are 6 workshop options
available as set out below. There are morning, afternoon or evening sessions you can
choose from and you can attend from your home or office.
Batch Start date Finish date Class Time
Batch 1 Saturday, 13 February 2021 Saturday, 5 June 2021 9.00am- 11.00am
Batch 2 Saturday, 13 February 2021 Saturday, 5 June 2021 1.00pm -3.00pm
Batch 3 Saturday, 13 February 2021 Saturday, 5 June 2021 5.00pm- 7.00pm
Batch 4 Sunday, 14 February 2021 Sunday, 6 June 2021 9.00am- 11.00am
Batch 5 Sunday, 14 February 2021 Sunday, 6 June 2021 1.00pm -3.00pm
Batch 6 Sunday, 14 February 2021 Sunday, 6 June 2021 5.00pm- 7.00pm
2|Premier Tax and Bookkeeping Pty LtdBAS &Income Tax Returns Preparation Skills
14. CERTIFICATE
On satisfactory completion of the workshops, you will be provided with a Workshop
Completion Certificate. This Certificate includes all components covered in the workshops.
15. NATIONAL ACCREDITED UNITS
This is an industry based practical skills course with no links to nationally accredited units
and/or qualifications.
16. COURSE CONTENT
The course covers business and income taxation rules, and the preparation of BAS and
income tax returns using Xero Practice Manger (XPM) with topics including:
BAS Preparation Skills
a) Understanding Business Tax Obligations e) Fringe Benefits Tax (FBT)
• Tax File Number (TFN) • Types of Fringe Benefits
• Australian Business Number (ABN) • FBT calculation rules
• MYGOVID • How to complete your Activity
• Business Registrations Statement FBT labels
b) PAYG Withholding - PAYG(W) f) Fuel Tax Credits (FTC)
• Payments you need to withhold • FTC eligibility
• Calculation of PAYG(W) • FTC calculation rules
• How to complete your Activity • How to complete your Activity
Statement PAYG (W)labels Statement FTC labels
c) PAYG Instalment -PAYG (I) g) Luxury Car Tax (LCT)
• PAYG instalment rate calculation • Calculating LCT
• Changing PAYG instalment • How to complete your Activity
• How to complete your Activity Statement LCT labels
Statement PAYG (I)labels h) Manual BAS Preparation
d) Goods and Services Tax (GST) • Completing BAS Forms
• Taxable sales / Input-taxed sales/ GST- • BAS labels and Summary
free sales i) Preparing BAS Using Xero Practice Manager
• GST Special Rules (car and second-hand (XPM)
items) • Accessing Australian Tax Office (ATO)
• Disposing of Business Assets Tax agent portal
• Calculation of GST credits • Create New Clients in XPM
• GST adjustments and corrections • Create New Job and Invoice in XPM
• Using GST calculation worksheet • Create Simpler and Full BAS in XPM
• How to complete your Activity • Pre-fill BAS information from ATO
Statement GST labels • Prepare and Lodge Tax Returns and
BAS in XPM
• Uploading Substantiation Documents
in XPM
•
3|Premier Tax and Bookkeeping Pty LtdBAS &Income Tax Returns Preparation Skills
Income Tax Returns Preparation Skills
a) Income Tax Basic Principles h) Income Tax Work-Related Deductions
• Income Tax Legislation • Vehicle and Travel Expenses
• ATO Rulings • Overtime Meal Deductions
• Sources of income • Clothing, Laundry and Dry-Cleaning
• Income and Deductions Expenses
• Income Tax Rates and Tables • Gifts and Donations
• Tax Resident /Non-Residents • Home Office Expenses
b) Assessable Income Principles and • Interest, Dividend and other
Calculations Investment Income Deductions
• Employment Income • Self-Education Expenses
• Employment Termination Payments • Tools, Equipment and Other Assets
• Business Income including sole trader, • Cosmetics containing Sun Protection
trust, partnership and company income • Handbags, Briefcases and Satchels
• Dividend Income • ATO Interest – Calculation and
• Interest Income Reporting
• Government Allowances (e.g. Newstart • Books, Periodicals and Digital
Allowance) Information
• Investment property income, including • Cash Shortages or Client Bad Debts
rental property and shares • Claiming Mobile Phone, Internet and
• Ride-sourcing and Tax (Uber) Home Phone Expenses
• Capital Gains • Cost of Managing Tax Affairs
• Foreign income • Election Expenses
c) Business Expense Deductions • Glasses and Contact Lenses
• Cost of Goods Sold Expenses • Income Protection Insurance
• Operational Expenses • Interest charged by the ATO
• Rental Property Expenses (Commercial • Overtime Meals
and Residential properties) • Personal Super Contributions
• Ride-sourcing and Tax (Uber) Expenses • Seminars, Conferences and Education
• Claiming Capital Assets and Expenses Workshops
• General Depreciation Rules • Union Fees, Subscriptions to
• Simplified Depreciation Rules Associations and Bargaining Agents’
• Other Depreciation Rules Fees
• Disposing of a Depreciating Asset • Working with Children Check
• Capital Works Deductions i) Tax Losses
d) Accounting for Trading Stock • Offsetting Current Year Losses
• Simpler Trading Stock Rules for Small • Claiming Tax Losses from Previous
Businesses Years
• General Trading Stock Rules • Carry Forward to Future Years
e) Medicare Levy j) Preparing Tax Returns Using Xero Practice
• Medicare Levy Manager (XPM)
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• Medicare Levy Surcharge • Accessing Australian Tax Office (ATO)
f) Offsets and Rebates Tax agent portal
• Lowe Income Tax Offset (LITO) • Create New Clients in XPM
• Low and Middle-Income Tax Offset • Create New Job and Invoice in XPM
(LMITO) • Create Tax Returns
• Private Health Insurance • Pre-fill Income tax formation from
• Zone and Overseas Forces ATO
• Small Business Income Tax Offset • Prepare and Lodge Tax Returns and
g) Substation Requirements for Deductions BAS in XPM for Individuals and
• Work-Related Expenses Businesses including, Sole Traders,
• Business Expenses Partnerships, Trusts and Companies.
• Special Rules • Uploading Substantiation Documents
in XPM
• Amend Tax Returns in XPM
17. HOW TO APPLY
Before applying, please ensure you select the correct time slot that does not clash with any
other study, professional or family commitments. You can apply online by clicking on APPLY
NOW
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