Payroll Assignment - Finance Module, Semester 2, University Name

This comprehensive payroll assignment delves into various aspects of financial accounting and taxation within the Australian context. Part A explores Goods and Services Tax (GST) regulations, including registration thresholds, accounting bases, and tax codes. It covers GST calculations for sales and purchases, including the application of cash and accrual accounting methods. The assignment proceeds to PAYG (Pay As You Go) installment calculations, including determining installment income and applying appropriate rates. Furthermore, the assignment includes the preparation of a quarterly GST report and payment, including calculations for various labels (G1, G2, etc.) and reconciliation. Part B examines various payroll-related topics such as Australian Business Number (ABN), TFN declaration, HELP, Medicare Levy, ATO regulations, FBT, superannuation, and tax agent services. It also covers the requirements to become a tax agent and the ability of BAS agents to provide payroll services. The assignment also includes the calculation of PAYG tax, net wages, and other payroll related information.