FNSPAY505 - Interpret and apply knowledge of taxation systems relevant to payroll

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Unit code: FNSPAY505 | Study level: TAFE
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Footscray Nicholson
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Overview
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Overview

This unit describes the skills and knowledge required to research, analyse and apply knowledge of taxation systems to the provision of payroll services. 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:

  • conduct research on changes to, or new, taxation systems relevant to payroll operations;
  • assess impact of taxation systems on payroll operations and apply understanding of taxation systems to payroll operations to ensure compliance and accuracy of payments;
  • inform stakeholders of changes to payroll operations resulting from changes to taxation systems in line with organisational policies and procedures;
  • determine the impact of taxation systems on at least three of the following types of legal entities and business structures: sole traders; partnerships; companies; not for profit organisations; principal contractors; subcontractors and grouped employers;
  • seek advice from sources when interpreting taxation systems, and;
  • use sources of information to ensure currency of knowledge of taxation systems relevant to payroll.

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.

As part of a course

This unit is not compulsory for any specific course. Depending on the course you study, this unit may be taken as an elective.

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