Unit of competency Outline

Date retreived
22/07/2026 1:56 PM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Complete business activity and instalment activity statements

Complete business activity and instalment activity statements

Unit of competency
National Code
FNSTPB411
State Code
OEB76
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
07/12/2022
Nominal Hours
60
Description
This unit describes the skills and knowledge required to process and complete business activity statements (BAS), instalment activity statements (IAS), and other required reports according to compliance requirements.The unit applies to individuals who use a range of organisational and analytical techniques to work in organisations or to supply specific bookkeeping services as a small business owner or contractor.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the education requirements of the Tax Practitioners Board (TPB). Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Identify and apply compliance and other requirements applicable to business activity
  • 1.1 Research and document legislative, regulatory, industry and organisational requirements relating to activity statements and seek expert advice to clarify issues where applicable
  • 1.2 Research, interpret and apply legislation relating to taxes reported on activity statements
  • 1.3 Identify, document and apply policies relating to compliance with code of professional conduct as stipulated in legislation relevant to activity
  • 1.4 Identify scope of services that can be provided by a Registered BAS Agent under the Tax Agent Services Act, and the limitations of services compared to those of a Tax Agent
  • 1.5 Identify and access information, advice and services outside own scope of operation; establishing and using networks where necessary
  • 1.6 Identify and document lodgement schedule requirements
  • 1.7 Assess entity’s cash flow and payment options and arrangements, and advise management to ensure sufficient funds are available to meet statutory requirements
2. Analyse and apply industry codes of conduct associated with work activities
  • 2.1 Research, interpret and apply relevant industry codes of conduct and identify the applicable governing bodies
  • 2.2 Assess work activities within own role to ensure compliance with code of conduct requirements
  • 2.3 Identify and document competency development required under relevant legislation for preparing activity statements
3. Review and apply goods and services tax (GST) implications and code transactions
  • 3.1 Identify, interpret and apply and record GST principles
  • 3.2 Identify and code purchases and payments according to GST classifications
  • 3.3 Identify and code sales and receipts according to GST classifications
  • 3.4 Process accounting data according to tax and GST reporting requirements
4. Report on payroll activities and amounts withheld
  • 4.1 Establish process for reporting payroll according to statutory requirements
  • 4.2 Calculate and reconcile total salaries, wages and other payments for a reporting period, and data reported under Single Touch Payroll
  • 4.3 Calculate amounts withheld to be reported for lodgement and calculate for other tax types where applicable
5. Reconcile and prepare activity statement
  • 5.1 Prepare and reconcile activity statement reports, identify and correct statement errors, and adjust bookkeeping entries as required
  • 5.2 Review transactions involving capital acquisitions and imports in the accounting system
  • 5.3 Identify and make adjustments for previous quarters, months and year-end where necessary according to legislative guidelines
  • 5.4 Complete BAS and IAS return according to legislative requirements
  • 5.5 Reconcile figures completed on BAS and/or IAS form with financial statements, GST and other control accounts
6. Check and lodge activity statement
  • 6.1 Check activity statement and confirm sign-off by authorising person according to statutory, legislative and regulatory requirements
  • 6.2 Prepare activity statement for lodgement according to statutory, legislative and regulatory requirements
No information
No information
Replaces
State Code National Code Title Type
BBH92 FNSTPB401 Complete business activity and instalment activity statements Unit of competency