This course aims to equip participants with a comprehensive understanding of Goods and Services Tax (GST) compliance in Australia from the BAS perspective. It covers the fundamental aspects of GST in Australia, including the current GST rate, registration, and reporting requirements for businesses, as well as the common challenges faced by businesses in meeting GST compliance standards, such as record-keeping and timely payment.

The course also delves into the evolution of the GST system in Australia, detailing the changes made to the GST rate, exemptions, administration, and compliance requirements over time. It further discusses the application of the GST system for different types of entities, including sole traders, partnerships, trusts, and companies.

Participants will also gain insight into income tax and corporate tax in Australia and learn how these differ from GST. The course explains how to calculate GST, including identifying taxable supplies and calculating GST payable and input tax credits. Moreover, the course covers recent changes to GST law in Australia, including new requirements for overseas businesses selling digital products and services to Australian consumers. Participants will learn about the components of a Business Activity Statement (BAS) form, including the GST section and other tax and obligation-related areas.

With a focus on providing businesses with a comprehensive understanding of their tax compliance obligations in Australia, the course covers topics such as Single Touch Payroll (STP), Pay As You Go (PAYG) withholding, Fringe Benefits Tax (FBT), and the BAS.

By the end of the course, participants will have a comprehensive understanding of their tax compliance obligations and how to stay up-to-date with the latest regulatory requirements in Australia.