This unit describes the skills and knowledge required to maintain business taxation accounting records, and to process lodgements and returns according to Australian Taxation Office (ATO) requirements, excluding income tax. Documentation for business activity statements (BAS) must be authorised by a registered BAS agent. It applies to individuals who use specialised knowledge and follow defined procedures to administer and process taxation-related information within the scope of own responsibility.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:
FNSACC411

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - maintain accounting records for taxation purposes; - establish and maintain an administrative process for managing business taxation returns, excluding income tax, and; - prepare and process business taxation returns using validated data according to Australian taxation requirements.Students will also be expected to demonstrate the following knowledge: - key requirements of Australian Taxation Office (ATO) and legislation relating to business taxation returns; - accounting terminology used when processing business taxation requirements, including terminology found in: business activity statements; fringe benefits tax (FBT); pay as you go (PAYG) tax; company tax; wine equalisation tax; luxury car tax; payroll tax and stamp duty; - key ATO and organisational requirements for tax lodgement schedules; - key administrative procedures in a financial services organisation or business unit relating to taxation accounting, and; - records, and lodgements and returns.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.