Elements and Performance Criteria
- Identify individual compliance and other requirements
- Research and document legislative, regulatory, industry and organisational requirements relating to activity statements and seek expert advice to clarify issues where applicable
- Review, interpret and apply legislation related to taxes reported on activity statements, using relevant materials when required and other resources supporting legislation
- Identify and document policies in relation to compliance with Code of Professional Conduct as stipulated in relevant legislation
- Identify and access information, advice or services outside individual’s scope of operation and establish and use networks where necessary
- Identify and document lodgement schedule requirements
- Assess entity’s cash flow and payment options and initiate discussion with management to ensure sufficient funds are available
- Recognise and apply GST implications and code transactions
- Report on payroll activities and amounts withheld
- Identify and reconcile total salaries, wages and other payments for accounting period
- Identify and reconcile amounts withheld from salaries and wages for accounting period in conjunction with payroll department if applicable
- Identify and reconcile amounts withheld from other payments for accounting period in conjunction with other departments if applicable
- Verify or calculate pay as you go (PAYG) instalment amount where applicable, or calculate for other payments where applicable
- Complete and reconcile activity statement
- Generate, review and validate activity statement reports, identify any errors and correct bookkeeping entries where required
- Make adjustments for previous quarters, months or year-end where necessary
- Complete BAS and/or IAS return in accordance with current statutory, legislative, regulatory and organisational schedule
- Reconcile figures completed on BAS and/or IAS form with journal entries, financial statements, GST and other control accounts
- Lodge activity statement