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Elements and Performance Criteria

1. Develop tax strategy
   • Identify taxation issues
   • Interpret and apply relevant taxation legislation and policies
   • Identify and negotiate solution
2. Perform taxation accounting
   • Extract report from the relevant financial systems
   • Verify that taxation data is accurate and complete
   • Prepare and process journal and payment documentation
   • Reconcile accounts
3. Prepare tax returns
   • Collate data for inclusion in tax return
   • Perform calculations and categorise information
   • Review calculations for accuracy and applicability
   • Compile and submit tax return
4. Monitor taxation compliance
   • Develop quality assurance sample from taxation report
   • Investigate sample transactions
   • Identify issues within the sample data
   • Advise on solutions and initiate corrective action

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment. Non-essential conditions may be found in the Companion Volume Implementation Guide.

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Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include: analysing financial transaction data applying statutory formulas applying taxation legislation requirements to public sector workplace enquiries collecting of Fringe Benefits Tax data engaging with stakeholders inputting and extracting financial information systems data processing journals processing payments undertaking reconciliations using financial software systems.

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Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of: Fringe Benefit Tax return and Fringe Benefit Tax group tax return process relevant organisation policies and procedures purpose of a Business Activity Statement (BAS) taxation legislation governing taxation management in the organisation.

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