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ther taxation laws, including taxab collection and recovery), wine equalis sessment Task 2 . . Privacy Act . ATO requirements ccounting terminology used when Assessment Task 2 FNSTPB401 - Complete business activity and instalment activity statem GST terminology, classifica 3) Review any comments and corrections suggested by your supervisor and make the appropriate pes corrects to your work. . h) Resubmit the corrected work to your supervisor. . ) Once your work is approved by your supervisor arrange for the completed and signed BAS to be lodge with the ATO. Project (2) Chatham Junior Football Club Inc. is a not-for-profit junior football club which has an ABN and is registered for GST. They report annually for GST on a cash basis. From the data provided. a) Calculate the Annual GST amounts for each item Identify any private use items and adjustments c) Identify any adjustment amounts d) Complete the GST calculation worksheet supplied e) Complete the quarterly BAS supplied Submit the work a) to b) above to your supervisor for checking (for the purposes of this activity the teacher is the supervisor) Review any comments and corrections suggested by your supervisor and make the appropriate corrects to your work. h) Resubmit the corrected work to your supervisor. i) Once your work is approved by your supervisor arrange for the completed and signed BAS to be lodged with the ATO. Submission You must complete and successfully answer all questions for both projects. Your assessor will be looking for evidence of the ability to: research, critically evaluate, and apply changes to current or new legislative or professional conduct requirements when preparing business activity statements (BAS) identify financial transactions required to prepare activity statements and apply the principles and classifications of the goods and services tax (GST) prepare both BAS and instalment activity statements (IAS) for a range of legal entities that comply with: Australian taxation law, Australian Taxation Office (ATO) rulings, Tax Practitioner Board (TPB) requirements, and lodgement schedules accounting principles and practices organisational policy and procedures relating to business activity statements present business activity statements for verification and approval. . Research methods and sources of information used to update knowledge of professional and egislative requirements relating to activity statements Key requirements of current legislation, regulations and industry codes of practice relating to preparing activity statements, including: . Tax Agent Services Act (TASA), including Code of Professional Conduct. TPB registration requirements, and civil penalty provisions Fringe Benefits Tax Assessment Act . A New Tax System (Goods and Services Tax) Act . Income Tax Assessment Act . Taxation Administration Act SIBN College V1.0 May2018 Page 2 of 3