FNSPAY501 - Process salary packaging arrangements and additional allowances in payroll

Unit code: FNSPAY501 | Study level: TAFE

Credit points

N/A

Location

Footscray Nicholson

Prerequisites

N/A

Overview

This unit describes the skills and knowledge required to process salary packaging arrangements and additional allowances for employees in payroll systems. It applies to individuals who, within their level of authority, use specialised knowledge, systematic approaches and analytical techniques to prepare data, calculate and verify payments, and ensure compliance with regulatory requirements using established payroll systems.

Assessment

For Melbourne campuses

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:

assess benefits and costs to an organisation and its employees of different salary packaging models;
identify additional allowances relating to an employee’s employment conditions using required sources of information;
use a payroll system to calculate and process the impact of salary packaging arrangements and additional allowances on an employee’s payments, and;
confirm compliance of salary packaging arrangements with applicable regulatory requirements and organisational policies and procedures.

Students will also be expected to demonstrate the following knowledge:

key features of legislation, regulations and taxation systems relevant to salary packaging arrangements and additional allowances;
benefits and costs to organisations and employees of salary packaging arrangements;
different models for salary packaging;
common types of benefits that can be included in salary packaging arrangements;
common types of additional allowances, and;
external and organisational sources that can be accessed for additional information on salary packaging arrangements and additional allowances.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the Polytechnic and/or via the Polytechnic e-learning system.