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Tax project Answer. 1 st Quarter BAS 1 July 2008 to 30 th September. Determine which income Belongs to the quarter. Worksheet. Enter Income Details. Worksheet. Total Income for the Quarter Then transfer to BAS. Place Total Income at G1. Does the total income include GST?.

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1 st quarter bas 1 july 2008 to 30 th september
1st Quarter BAS1 July 2008 to 30th September

Determine which income

Belongs to the quarter


Worksheet
Worksheet

Enter Income Details


Worksheet1
Worksheet

Total Income for the Quarter

Then transfer to BAS





1 st quarter bas 1 july 2008 to 30 th september1
1st Quarter BAS1 July 2008 to 30th September

Determine capital purchases for the periodthat are above your depreciation threshold

In our case items less than $1000 are immediatelydeductable and not treated as capital purchases


Worksheet2
Worksheet

Capital Purchases for Quarter

Then transfer to BAS



1 st quarter bas 1 july 2008 to 30 th september2
1st Quarter BAS1 July 2008 to 30th September

Determine non capital purchases for the period

Remember capital items less than $1000 are immediatelydeductable and not treated as capital purchases


Worksheet3
Worksheet

Non Capital Purchases for Quarter


1 st quarter bas 1 july 2008 to 30 th september3
1st Quarter BAS1 July 2008 to 30th September

Determine non capital purchases for the period

Subcontractors are not employees and are treatedas non capital purchases


Worksheet4
Worksheet

Non Capital Purchases for Quarter


1 st quarter bas 1 july 2008 to 30 th september4
1st Quarter BAS1 July 2008 to 30th September

Determine non capital purchases for the period

Remember capital items less than $1000 are immediatelydeductable and not treated as capital purchases


Worksheet5
Worksheet

Non Capital Purchases for Quarter


Worksheet6
Worksheet

Total Non Capital Purchases for Quarterand place at G11



1 st quarter bas 1 july 2008 to 30 th september5
1st Quarter BAS1 July 2008 to 30th September

Determine wages paid to employees for the quarter


Worksheet7
Worksheet

Total Wages, Salary and Other Paymentsand place at W1



Worksheet8
Worksheet

Amounts of tax withheld from employeesand place at W2




Worksheet9
Worksheet

Determine GST you have been paid fromyour invoices

$22 387.00 ÷ 11 = $2 035.18


Worksheet10
Worksheet

Determine your income excluding GST for the period

$22 387.00 - $2 035.18 = $20 351.82

Place at T1



Calculate Tax payable

Tax rate determine by ATO


Worksheet11
Worksheet

Determine PAYG Installment Tax payablefor the period

$2 035.18 x 16.75% = $3409

Place at T11




G10 $1300 +

G11 $5194.65

$6494.65 ÷ 11

= $ 590.42 (1B)




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