Complete business activity and instalment activity statements in Australia

Tim has a software development business, selling his software in Australia and to overseas customers. Tim uses the Cash basis when accounting for GST and is required to prepare and lodge a Business Activity Statement for the period 1stApril to 30thJune. Tim's instalment rate is 5%. The following information has been summarised from Tim's books for the required period and is to be used when completion the calculation sheet and BAS.

SALES			Amount ($)
Sales (including GST)		154,200.00
Exports			46,650.00
Other GST-free sales		18,910.00
EXPENSES
Capital purchases (including GST)	106,800.00
Non-capital purchases (including GST)	69,590.00
Gross salaries and wages	63,000.00
PAYG Withheld from Salaries and Wages	25,150.00

Required: Complete Tim's BAS for the period 1stApril to 30thJune using Option 1 to calculate GST

Required: Complete Tim's BAS for the period 1stApril to 30thJune using Option 1 to calculate GST
GST amounts you owe the Tax Office from sales
G1	Total sales (including any GST)		G1	$
G2	Export sales		G2	$
G3	Other GST-free sales		G3	$
G4	Input taxed sales		G4	$
G5	G2 + G3 + G4		G5	$
G6	Total sales subject to GST(G1 minus G5)	G6	$
G7	Adjustments (if applicable)		G7	$
G8	Total sales subject to GST after adjustments (G6 +G7)	G8	$
G9	GST on sales (G8 divided by eleven)		G9	$
GST amounts the Tax Office owes you from purchases
G10	Capital purchases (including any GST)		G10	$
G11	Non-capital purchases (including any GST)	G11	$
G12	G10 + G11			G12	$
G13	Purchases for making input taxed sales	G13	$
G14	Purchases without GST in the price		G14	$
G15	Estimated purchases for private use or not income tax deductible	G15	$
G16	G13 + G14 + G15		G16	$
G17	Total purchases subject to GST (G12 minus G16)	G17	$
G18	Adjustments (if applicable)		G18	$
G19	Total purchases subject to GST after adjustments (G17 + G18)	G19	$
G20	GST on purchases (G19 divided by eleven)	G20	$
Business Activity Statement (extract)
Option 1: Calculate GST and report quarterly
Total sales			G1	$
Export sales			G2	$
Other GST-free sales		G3	$
Capital purchases		G10	$
Non-capital purchases		G11	$
PAYG tax withheld
Total salary, wages and other payments	W1	$
Amounts withheld from payments shown at W1	W2	$
Amounts withheld where no ABN is quoted	W4	$
Other amounts withheld (excluding any amount shown at W2 or W4	W3	$
Total amounts withheld (W2+W4+W3)	W5	$
Summary
Amounts you owe the Tax Office
GST on sales		1A	$
(2 decimal places)
Wine Equalizaiton Tax		1C	$
Luxury Car Tax		1E	$
PAYG tax withheld		4	$
PAYG income tax instalment	5A	$
(2 decimal places)
FBT instalment		6A	$
Deferred company instalment	7	$
1A+1C+1E+4+5A+6A+7		8A	$
Amounts the Tax Office owes you
GST on purchases		1B	$
(2 decimal places)
WET refundable		1D	$
LCT refundable		1F	$
Credit from PAYG instalment variation	5B	$
Credit from FBT instalment variation	6B	$
			1B+ 1D+ 1F+5B+ 6B	$

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