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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Gather and analyse data relevant to client’s tax position
   • Identify and collect client data relevant to tax documentation requirements
   • Analyse data to extract relevant tax information and identify any discrepancies requiring verification or research for resolution
   • Obtain advice and guidance from specialist to evaluate and moderate decision processes
2. Identify taxation requirements for complex lodgements and returns
   • Identify and confirm suitability of legal entities within client's organisational structure
   • Conduct research to identify updates or additions to compliance requirements relevant to client's circumstances, and establish recording and reporting requirements
   • Determine client's tax documentation preparation requirements
3. Gather and analyse data relevant to client’s tax position
   • Identify and collect client data relevant to tax documentation requirements
   • Analyse data to extract relevant tax information and identify any discrepancies requiring verification or research for resolution
   • Obtain advice and guidance from specialist to evaluate and moderate decision processes
4. Prepare and present tax documentation
   • Calculate client's tax obligations, in accordance with legislative requirements and information gathering practices
   • Prepare tax documentation to comply with relevant Australian Taxation Office (ATO), legislative and organisational recording and reporting requirements
   • Present and confirm documentation with clients to obtain client signature, authorisation and endorsement, ensuring legislative requirements are met
5. Lodge tax documentation
   • Submit relevant tax documentation to the ATO within established timelines
   • Advise client of current tax obligations and that any advice from taxation authorities is to be followed
   • Respond to tax office enquiries and meet taxation audit requirements, when applicable, in timely manner

Performance Evidence

Evidence of the ability to:

research and critically evaluate new or changed legislative requirements and apply where relevant to the preparation of the client's tax documentation

provide taxation advice to clients in line with individual requirements

identify legal entity tax data required to calculate taxable income

prepare tax documentation for legal entities that complies with:

Australian taxation law and Australian Taxation Office (ATO) rulings and lodgement schedules

accounting principles and practices

organisational policy and procedures

present tax documentation to the client for verification and approval.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

identify and explain ethical considerations and legislative requirements relevant to the preparation of tax documentation for legal entities, including:

conflict of interest

responsibilities of tax agents including Code of Professional Conduct obligations under the Tax Agent Services Act (TASA) and Tax Agent Services Regulations (TASR)

government tax policy documents issued by Reviews, Treasury and Board of Taxation

explanatory materials in relation to legislation

statutes

court and Administrative Appeals Tribunal decisions

Commissioner of Taxation's interpretive guidance in Rulings and Determinations

explain critical and key elements of Australian tax law as it relates to tax documentation for legal entities such as companies, trusts, partnerships and sole traders including:

the rules and principles of Australian tax law, with an understanding of the legal environment in which these principles operate, basics of the legal system, constitutional considerations and separation of powers

the key aspects of income tax law covering concepts of residence and source, related elements of international tax, assessable income, deductions, tax rebates and offsets, and tax accounting

the key aspects of taxes that extend the ordinary income tax base, including relevant principles and application of the capital gains tax (CGT) and fringe benefits tax (FBT) rules

goods and services tax (GST)

taxation aspects of superannuation law

administrative aspects of the taxes identified above including documentation, tax collection and withholding mechanisms, assessments, obligations, rulings, penalties and audits

specific and general anti-avoidance tax rules

describe the key sources of information and taxable transactions data required to calculate taxable income, including:

allowable deductions

capital gains

financial adjustments such as write-offs and revaluations

income

payments

purchases

superannuation payments

describe the key features of organisational policy and procedures relating to the preparation of tax documentation for legal entities

outline the key accounting principles and practices relevant to the preparation of tax documentation for the different types of legal entities.

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