ABKA533 Understanding GST Assessment V6 2026| The Career Academy NZ

Understanding GST

Read through the requirements below, and then complete all parts of the assessment and then save your work as either a Word document or a PDF file. Once you have saved your work click on the Assessment submission link within this topic and upload your completed assessment to your tutor for marking.

Learning Outcomes

By the end of this assignment you should be able to:

• Identify an overview of GST in Australia.
• Recognise the major principles of GST.
• Identify when GST registration is required.
• Recognise the obligations a business has once they are registered for GST.
• Identify the components of a valid sales invoice.
• Identify what the term attribution means and how this affects the GST returned to the ATO.
• Compare and contrast the cash basis and accrual basis for reporting GST.
• Calculate the GST on a product or service.
• Complete a basic BAS return.

Question One

There are two methods for accounting for GST; Cash basis and accrual basis. Refer to the course material and other external resources and provide a comprehensive table which compares both of these methods. Be sure to include the advantages, disadvantages, and suggest any two types of business that would use each method.

Question Two

Explain why the principle of supply is critical to the enforcement of GST legislation.

Question Three

Below are the transaction values of several transactions that took place for a GST registered enterprise last quarter. Using the information provided calculate the missing figure, and include your calculations:

Question Four

In your own words explain what the term attribution means in relation to GST and provide an example of how attribution affects the GST returned to the ATO.

Question Five

A summary of the transactions that were entered into by ABC Pty Limited during the quarter ended 30 September are presented below. You have been asked to prepare the Quarterly BAS for ABC Pty Limited using this information:
You will need to first complete the GST Calculation sheet (template provided below) for the period and then fill in the BAS fields presented in the table below, and determine whether a refund or a liability exists, and what this amount is.

Make sure you show all workings.

All the figures shown are GST inclusive where applicable. An estimated amount of purchases for private use has been determined to be $25 000.