BAS Advanced

Get the latest updates in business activity statement (BAS) reporting and goods and services tax (GST), and cover advanced topics such as:

• a refresher on GST fundamentals – including supplies and acquisitions, and the cash accruals method of accounting for GST 
• timing rules for paying GST and claiming GST credits
• when the usual timing rules don’t apply, including:
  • progressive and periodic supplies
  • asset financing (lease and hire purchase) 
  • deposits and part payments
  • lay-by sales
  • issue and redemption of vouchers
  • the margin scheme 
  • GST adjustments 
  • correcting GST mistakes
  • importing and exporting goods and services 
  • dealing with selected transactions, such as financial supplies and acquisitions, second-hand goods and barter transactions
  • simplified accounting methods
  • GST and annual private apportionment
  • reporting and paying GST annually
  • claiming fuel tax credits

At the completion you will understand:

• how to deal with supplies and acquisitions, including financial
• the difference between GST adjustments and correcting minor errors
• GST deferral arrangements for importers
• the importance of tax invoices 
• the consequences of changing a GST accounting basis 
• the concessional rules for dealing with non-taxable and non-creditable acquisitions 
• who is eligible for fuel tax credits following the expansion of eligibility from 1 July 2008

Upon completion of this workshop, you will receive a manual detailing theories discussed in the workshop, as well as important issues and discussion points.

“Great course, well presented and easy to follow.” K Rorison, CPA, Victoria