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Q22a. Provide two [2) examples of the research methods and two [2) sources of information you can use to develop your knowledge of the various legislative, regulatory, industry and organisational requirements relating to activity statements. In other words, how would you learn more about the activity statements. A: Q22b. Identify two (2] organisational requirements for preparing activity statements. Use at least one {1] of your research methods above. A: 123. In your own words, discuss the ATO requirements for the preparation and submission of BAS and IAS for: al Individuals {Sole Traders] [50-100 words) b) Companies {50-100 words] A: Q24. Give at least two {2] examples of the following GST terminology as it relates to Business Activity Statements: - Classifications of GST Items 0 Regulations regarding EST - Obligations of organisations Q25. Research and briefly describe each of the following key requirements as they relate to BAS: {25-50 words each] 0 Tax Agent Services Act [TASA}, including Code of Professional Conduct 0 TPB registration requirements, and civil penalty provisions - Fringe Benefits Tax Assessment Act 0 A New Tax System {Goods and Services Tax! Act 0 Income Tax Assessment Act 0 Taxation Administration Act - othertaxation laws, including taxable payments annual reporting, fringe benefits tax [for collection! recovery}, wine equalisation tax, luxury car tax and fuel tax 0 Privacy Act - ATO requirements Q26: W should be made to comply with the industry code of professional conduct enforced by governing bodies, and as stipulated in legislation relevant to business activity. Give at least two [2} examples of such policies that your organisation should have in place. Identify the applicable governing bodyfieusl. A: Q27. List all the taxes that get reported on a BAS and IAS along with a short reference to their legislation regarding the lodgement schedule. Use the table below: Tax Item BAS lodgement date IAS lodgement date GST PAYGW PAYGI LCT WET A: Q28. Changes to professional conduct requirements can have an impact on how you perform activities as a BAS agent. Perform some research evaluating current or new professional conduct requirements in relation to preparing business activity statements (BAS). Describe any changes and the potential impact on preparing BAS. Give details of the new skills or knowledge you would need to develop to comply with the change. A