Holmesglen BAF: FNSTPB401 BAS Agent Research Assignment

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Added on 2022/08/16

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This assignment provides answers to research questions sourced from the Tax Practitioners Board and the Institute of Certified Bookkeepers (ICB) websites. The questions cover various aspects of being a BAS agent, including registration requirements, additional services BAS agents can provide, and examples of BAS services. The assignment also explores services not considered BAS services, and services only tax agents can provide. Furthermore, it delves into the ICB Code of Professional Conduct, the purpose of the Income Tax Assessment Act 1936 and 1997, the Taxation Administration Act 1997, and the Taxable Payments Annual Report. The assignment concludes with questions on staying up-to-date with legislative changes and identifying activities outside a BAS agent's scope.

UNCLASSIFIED Holmesglen: KK BAF 31-Jan-2020 L:\BAF\Teaching\T&L\202010\FNS40217 Cert IV in Accounting and Bookkeeping\FNSTPB401 Complete business activity and instalment activity statements\Assessments\A 1\
CRS180_FNSTPB401_1of4_KK_S.docx
PART B – RESEARCH QUESTIONS – from regulatory websites on the Internet
Question 13: Visit the Tax Practitioners Board website and go to the Individual BAS Agent
page. List the five (5) Requirements for Registration as a BAS Agent.
Satisfactory
response
Yes No
Answer: Comment:
1. An individual should be minimum of 18 years in age in order to be held
eligible to apply.
2. An individual that is applying for registration should be fit and proper
3. An individual should satisfy the required qualification and experience
4. An individual should maintain professional indemnity insurance cover
which meets the requirements.
5. Complete the online application and give all the supportive documents.
Question 14: Visit the Tax Practitioners Board website. On 1st June 2016, The Tax Agent
Services (Specified BAS Services) Instrument 2016 was registered. List the
six (6) additional services that a BAS Agent can now provide.
Satisfactory
response
Yes No
Answer: BAS agents can now provide Comment:
1. Provide the services that are under the Superannuation Guarantee
(Administration) Act 1992 up to the extent that it is associated to the
payroll functions or payments of contractors.
2. Determining and reporting superannuation guarantee shortfall amount and
other related administrative fees.
3. Dealing with the superannuation payments that is made with the help of
clearing house.
4. Completing and lodging the taxable payments annual report to ATO on
clients behalf.
5. Sending a tax file number declaration to commissioner, on clients behalf
6. Applying to the registrar for the ABN, on clients behalf.
Question 15: Visit the Tax Practitioners Board website. In a table on the website, there are
many examples of BAS services that a registered BAS Agent can provide. List
three (3) of these BAS Services.
Satisfactory
response
Yes No
Answer: BAS service which the tax agent can provide are as follows Comment:
1. Determining or suggesting regarding liabilities, entitlements of a client
with the BAS provision
2. Representing the clients in their dealing with the taxation commissioner in
respect of BAS provision
3. Where it becomes reasonable to anticipate that a client would remain
dependent on the service to their obligations or satisfy liabilities or
claiming entitlements under the BAS provision.
Question 16: From the same table used in Question 15 on the Tax Practitioners Board
website, list three (3) services that are NOT considered a Tax Agent Service or
a BAS Service.
Satisfactory
response
Yes No
Answer: Comment:
1. Making an application to the registrar for the ABN on behalf of the client
2. Coding transactions, tax invoice and transferring data in another computer
3. Confirming figures to be included in client’s activity statement
Question 17: Visit the Tax Practitioners Board website and find the Tax Agent Services
Page. List three (3) services that a registered Tax Agent can provide, but a
registered BAS Agent cannot provide.
Satisfactory
response
Yes No

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UNCLASSIFIED Holmesglen: KK BAF 31-Jan-2020 L:\BAF\Teaching\T&L\202010\FNS40217 Cert IV in Accounting and Bookkeeping\FNSTPB401 Complete business activity and instalment activity statements\Assessments\A 1\
CRS180_FNSTPB401_1of4_KK_S.docx
Answer: Services which the registered Tax Agent can provide but the BAS agent cannot
provide are as follows;
Comment:
1. Preparing and lodging income tax returns.
2. Preparing and lodging FBT returns.
3. Varying PAYG instalments and FBT Instalments which appear on the BAS.
Question 18: Visit the Tax Practitioners Board Website and locate the “Recognised
Professional Associations” Page. List three (3) Recognised BAS Agent
Associations.
Satisfactory
response
Yes No
Answer: Below listed are three recognised BAS Agent Associations are Comment:
1. Association of accounting technicians (Australia) Limited
2. Australian Bookkeepers Association Ltd
3. CPA Australia
Question 19: Visit the Tax Practitioners Board website and search for Continuing
Professional Education, for a BAS Agent. What is the minimum number of
hours of CPE required over a three-year period for a BAS Agent?
Satisfactory
response
Yes No
Answer: __45_____ hours Comment:
Question 20: Visit the Tax Practitioners Board website and search for Continuing
Professional Education, for a BAS Agent. List five (5) different activities that
are an example of CPE Activity
Satisfactory
response
Yes No
Answer: The five examples of CPE Activity are as follows Comment:
1. Activity Considered as CPE
2. Tax agent that are in remote location completing CPE
3. Indirect activity that are considered to be relevant to CPE
4. Cyber-security awareness training which is identified as relevant CPE
5. Financial product training that is relevant to tax (financial) advice services
Question 21: Visit the Institute of Certified Bookkeepers (ICB) website and find the ICB
Code of Professional Conduct, and the Fundamental Principles and provide
a Yes or No answer to the questions below.
Satisfactory
response
Yes No
Answer: Yes or No Answer Comment:
a) Should a member engage in dishonest or
otherwise discreditable activities?
NO
b) Should a member hold their client’s
money in the members own personal
bank account?
NO
c) Should a member give estate planning
advice?
NO
d) Should a member ensure that any advice
given to a client is clearly and
comprehensibly expressed.
YES
e) Should a bookkeeper always act in the
interest of his client or employer?
YES

UNCLASSIFIED Holmesglen: KK BAF 31-Jan-2020 L:\BAF\Teaching\T&L\202010\FNS40217 Cert IV in Accounting and Bookkeeping\FNSTPB401 Complete business activity and instalment activity statements\Assessments\A 1\
CRS180_FNSTPB401_1of4_KK_S.docx
Question 22: Visit the Institute of Certified Bookkeepers website and find the ICB Code of
Professional Conduct, and the Public Practice section and provide a Yes or
No answer to the questions below.
Satisfactory
response
Yes No
Answer: Yes or No Answer Comment:
a) Can a member undertake work for a client
in which the member has a significant
pecuniary interest or where the interests
of the member and their client conflict,
without prior written consent of all relevant
parties?
NO
b) Can a member who advertises their
services contain derogatory remark or
suggestion about any other bookkeeper or
accountant?
NO
c) Should a member who has for the time
being been entrusted with the files,
documents or papers of any client at all
times hold and preserve them in a
convenient file, box or container bearing
in clear lettering on its outside?
YES
Question 23: A BAS agent needs to be aware of activities which may fall outside their scope
of operation. Provide three (3) more examples of an activity and suggest a
possible provider for each.
Satisfactory
response
Yes No
Answer: Activity Possible provider Comment:
1. Writing a legal contract Lawyer
2. Preparing Bank Reconciliations Accountant
3. Installing computer software
without ascertaining default GST
Tax Agent
4. Sending the TFN declaration to
Commissioner on client’s behalf.
Tax Agent
Question 24:
What is the purpose of the Income Tax Assessment Act 1936 and the
Income Tax Assessment Act 1997?
Satisfactory
response
Yes No
Answer:
The main purpose of ITAA 1997 is to highlight the deductions that is occurred at the time of earning
income and the main sections which covers deductions. The purpose of ITAA 1997 also includes
tax deduction of expenses on administering tax affairs. The ITAA 1997 deals with the CGT and sets
down the events which results in GST consequences.
The ITAA 1936 is a regarded as the main statute based on which the income tax is computed. The
main purpose of ITAA 1936 is to rewrite the ITAA 1997 and incorporate new matters to the ITAA
1997. The main purpose of rewriting the act is to amend it over the years that are very complex.
Comment:
Question 25:
What is the purpose of the Taxation Administration Act 1997?
Satisfactory
response
Yes No
Answer: The Taxation Administration Act 1997 provides the framework relating to the
administering of land tax, payroll taxes, duty charged on the certain transactions,
congestion levy, wagering and betting tax. The ultimate purpose of TAA is to harmonise the
tax administration all through the litany of tax statutes in order to improve the efficiency in
and effectiveness of the tax collection.
Comment:
Question 26: Briefly explain, in two or three sentences, what is the Taxable Payments
Annual Report? Satisfactory
response
Yes No